The United States has announced plans to partner with the Philippine government to support the growth of its semiconductor industry.
Through the US International Technology Security and Innovation (ITSI) Fund, the US State Department will collaborate with Manila to diversify the global semiconductor ecosystem.
The initial phase of the partnership will involve evaluating the existing semiconductor ecosystem, regulatory framework, workforce, and infrastructure in the Philippines.
Based on these findings, joint initiatives will be developed to advance the sector and create a more resilient and secure global semiconductor value chain.
The collaboration between the United States and the Philippines aims to expand the country’s semiconductor industry, benefiting both nations.
In line with this, President Joe Biden signed the CHIPS Act of 2022, which provides funding to boost domestic manufacturing and research of semiconductors in the US.
The ITSI Fund, created under this law, will allocate $100 million per year over five years to promote secure telecommunications networks, ensure semiconductor supply chain security, and foster diversification through new programs and initiatives with partner states.
President Ferdinand R. Marcos Jr. has also expressed the Philippines’ readiness to collaborate with the US in developing the semiconductor industry during his meeting with Vishay Siliconix officials in California.
Source: PhilNews24 | November 18, 2023
