bet168 Marcos wants to further develop PH semiconductor industry

President Ferdinand R. Marcos Jr. —Noel B. Pabalate/PPA Pool

MANILA, Philippines — President Ferdinand Marcos Jr. on Monday stressed the importance of the Philippines and the US’ relationship in developing the semiconductor industry.

Marcos made the pronouncement after a meeting in Malacañang with US Semiconductor Industry Association (SIA) president and chief executive officer John Neuffer.

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“We have the experience. We already have so many of the players in the country who are already doing the manufacturing and perhaps it’s just a question of developing it further. And in fact, the way technology goes is not something that you have a choice of, you just have to keep up,” the Presidential Communications Office (PCO) quoted Marcos as saying in a statement.

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“We have all kinds of issues when it comes to digital space, when it comes to planning our semiconductor industry. They are new and we’re trying to wrestle with how to deal with them. Unfortunately, geopolitics have become more important,” he added.

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READ: Is PH the next semiconductor superpower?

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Marcos also praised both Neuffer and the SIA for actively engaging with the Philippines.

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Neuffer, for his part, noted the US government’s initiatives in securing the continuous supply of semiconductors, stating how it invests in helping partners like the Philippines invest in the program.

The benchmark PSEi dropped by 1.36 percent, or 101.15 points, to end at 7,310.32 while the broader All Shares Index slipped by 0.55 percent, or 22.36 points, to settle at 4,015.16.

“It’s no secret that we’ve been approached by a coop[erative] in Davao, Nordeco,” AboitizPower Distribution Utilities Senior Vice President and Chief Operating Officer Anton Perdices told reporters on the sidelines of the Enlit Asia 2024 energy conference held in the Malaysian capital earlier this week.

“The State Department is spending $500 million for five years mostly on helping our friends and partners like the Philippines develop talent,” Neuffer said.

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He also praised the Philippines for its active role in the semiconductor industry.

“The participation of your government has been very rich… you’re taking it very seriously and we really appreciate it,” he added.

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According to the PCObet168, among the Philippines’ biggest exports to the US in 2023 were semiconductors and integrated circuits amounting to $3.1 billion, or 23.3 percent of its total exports to the North American country.

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