Marcos: US' CHIPS Act seen to boost PH semiconductor sector

President Ferdinand ''Bongbong'' Marcos Jr. on Monday expressed confidence that the United States' support under its CHIPS Act would boost the Philippines' semiconductor sector, including its professionals.

Marcos said the Philippines is expected to produce around 128,000 semiconductor engineers and technicians who would meet the demand of technology in the coming years.

“So, with the potential support from the United States under the CHIPS Act, we are poised to churn out a robust talent pool of 128,000 semiconductor engineers and technicians by the year 2028, ready to meet the expanding needs of high-technology industries,” Marcos said in his address during the courtesy call of the US government and Presidential Trade and Investment Mission (PTIM) delegation in Malacañang.

The CHIPS Act authorizes new funding to boost research and manufacturing of semiconductors in the US. The said law will also ensure US leadership in the technology that forms the foundation of everything from automobiles to household appliances to defense systems.

Marcos also said that the Philippines is ready to support US companies in their research and development endeavors, as well as other support operations.

“With our standing proposition to the US semiconductor companies to invest in a laboratory-scale wafer fabrication facility in the Philippines, we can support the R&D (research and development), and advanced assembly, packaging, and test requirements of U.S. companies that are into semiconductors and electronics manufacturing services,” he said.

He expressed confidence that this would enable Filipino professionals to create prototypes and tape-outs of integrated circuits and to engage in the development of cutting-edge, high-value products and services.

Marcos said this would then contribute to the advancement of a technology-driven economy.

The Philippine president also urged American firms to participate in the administration’s “Build, Better, More" program, which involves the development of 198 high-impact priority infrastructure flagship projects (IFPs).

“This is not the only important infrastructure that we need. Through the "Build, Better, More" program, we aim to launch 198 high-impact priority infrastructure flagship projects (IFPs), totaling USD 148 billion (PhP 8.8 trillion),” Marcos said.

“We eagerly welcome participation by US investors in these transformative initiatives,” he said.

Marcos further called on American businessmen to invest on developing the country’s energy sector and critical metals exploration and processing, among other areas.

The arrival of the US mission in Manila marks the fulfillment of US President Joe Biden’s commitment to Marcos during his state visit to Washington, D.C. in May 2023. 

To recall, Biden had pledged to send a high-level presidential delegation to the Philippines to enhance investment and trade relations between the two countries.

The Presidential Communications Office said that last year, the US ranked as the Philippines’s third out of 230 trading partners, first in export market, and fifth import source.—AOL, GMA Integrated News