GLOBAL semiconductor players are looking at tapping the Philippine semiconductor industry to deepen the country’s role in the global semiconductor supply chain and to support US firms in the endeavors under the Creating Helpful Incentives to Produce Semiconductors Act, according to the Board of Investments .
The BOI said in a news statement on Wednesday that “while the CHIPS Act incentivizes the manufacturing of microchips domestically in the US, there remain several segments in the semiconductor supply chain such as assembly, testing, and packing,which are more cost effectively conducted outside of the US.”
“We thank our US partners for the opportunities that you have presented, and for recognizing the Philippines as one of your key partners. We, in the Philippine government, stand with the local semiconductor industry in promoting partnerships and enhancing local capacities and competencies in semiconductor manufacturing to deepen the country’s role in the global semiconductor supply chain and be able to further support US companies in its endeavors under the CHIPS Act,” Rodolfo said.
According to the investment promotion agency, SIA and the government agencies exchanged views on the impacts of recent US export controls, semiconductor supply chain security and resilience initiatives, as well as potential opportunities for US-Philippines semiconductor cooperation, especially in R&D and workforce development, with the allotted $500 million funding under the CHIPS Act.