BoI eyes semiconductor push
THE BOARD OF INVESTMENTS (BOI) IS LOOKING INTO THE ESTABLISHMENT OF A LAB-SCALE WAFER FABRICATION PLANT THAT WILL ALSO BE USED TO TRAIN THE WORKFORCE FOR THE LOCAL SEMICONDUCTOR INDUSTRY.
“The wafer fab lab aims to train and upskill the workforce while enabling the local industry to do prototyping and some tape-outs of semiconductor chip designs in the country instead of bringing them all the way to Taiwan,” it said.
The agency added that it plans to produce 128,000 semiconductor engineers and technicians by 2028 to support the industry’s development.
In relation, the BoI said that the United States extended an invitation for the country to join the Organization for Economic Cooperation and Development (OECD) Semiconductor Informal Exchange Network, stressing its focus on practical implementation.
Also, the Philippines is one of the six nations the US will support under the Chips Act, citing the country’s promising semiconductor industry and skilled workforce.
Chips stands for Creating Helpful Incentives to Produce Semiconductors. The law has a provision allocating funds to assist the countries the US will support to develop their chip production capabilities.
Green investments
BoI Managing Head and Trade Undersecretary Ceferino Rodolfo, meanwhile, highlighted the increasing significance of developing industries such as electric vehicles and green metals.
“With a pronounced shift towards using and developing cleaner and more sustainable sources of energy, the Philippines is not only positioning itself as an attractive investment destination but also contributing to global efforts for a greener future,” the BoI said.
Rodolfo also welcomed the collaboration with the US on advancing the semiconductors and the critical minerals industry in the country.
“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,” said Rodolfo.
The US committed to connecting the Philippines with the Minerals Security Partnership (MSP) and assisting in the technical processes for mineral refining.
Additionally, the US plans to establish its presence in the Philippines through its US International Development Finance Corp. this month.
“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,” said BoI.