U.S. commits bigger Western capital to flow

Shifting the focus to semiconductors, the US shared that the Philippines is among the six countries it will be supporting under the CHIPS Act

Investments from 13 countries and the European Union are expected to flood the country’s semiconductors and critical mineral industry, based on a United States government commitment.

In a meeting with Board of Investments managing head, Trade Undersecretary Ceferino Rodolfo, United States Department of State Undersecretary for Economic Growth, Energy, and the Environment Jose Fernandez acknowledged the Philippines’ significant growth in semiconductors and critical minerals industries, highlighting its well-educated and highly trainable workforce.

He also committed to provide the Philippines an audience with the Minerals Security Partnership, a collaboration of 13 countries and the EU, which aims to catalyze public and private investment in responsible critical minerals supply chains globally.

As both countries work together to engage other nations to do mineral refining in the Philippines, the US is ready to assist in the technical processes as the Philippines prepares a work plan on critical minerals.

Shifting the focus to semiconductors, the US shared that the Philippines is among the six countries it will be supporting under the CHIPS Act.

Recognizing the potential of the country’s semiconductor industry supplemented by its talent pool, the assistance will be focused mainly on assembly, testing, and packaging. In a proactive move, the US also announced that its US International Development Finance Corp. will establish a more permanent presence in the Philippines by February.

For his part, BoI managing head Rodolfo said the agency welcomes the strategic collaboration with the US in semiconductors and critical minerals.

“This partnership not only reinforces the Philippines’ position as a key player in the global economy but also opens avenues for mutual growth and innovation. Together, we are charting a course toward sustainable development and economic resilience,” according to Rodolfo.

Lab-scale wafer fabrication plant

Rodolfo said the Philippines shared its plans to venture into semiconductor design.

He said the BoI is looking into the establishment of a lab-scale wafer fabrication plant.

Rodolfo told Fernandez that utilizing a more generic technology for commercial and educational purposes, the wafer fab lab aims to train and upskill the workforce while enabling the local industry to do prototyping and some tapeouts of semiconductor chip designs in the country instead of bringing them to Taiwan.