KEVIN ENGEL, CEO of US chipmaker Amkor Technology, paid a visit to President Ferdinand R. Marcos, Jr. and heard a pitch from the Palace centered on helping the Philippines make higher-value products.
In a statement, the Presidential Communications Office (PCO) quoted Mr. Marcos as saying during the visit: “Your continued involvement in the Philippines is something certainly we would like to encourage as we are trying to move our semiconductor industry up the value chain from pure fabrication to design.”
Amkor Technology is looking to pull manufacturing operations out of China. According to the PCO, the company sees potential in Philippine efforts in growing its chip workforce.
In December, the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) said US semiconductor companies are exploring local partnerships to transform Manila into an investment destination.
Amkor Technology, Allegro Microsystems, Analog Devices, Micro Technology and OnSemi also met with the President in December, exploring the possibility of setting up shop in the country.
In 2023, the Philippines generated about $50 billion in exports, with the industry supporting about 3 million direct and indirect jobs, according to OSAPIEA.
The Semiconductor and Electronics Industries in the Philippines Foundation, Inc. has said that exports of semiconductor and electronic products are likely to be flat in 2025.
OSAPIEA said the government is encouraged by opportunities presented by the US CHIPS and Science Act, which features a $500-million International Technology Security and Innovation Fund to be allocated to seven countries over five years, as the US moves to de-risk its technology supply chains. — John Victor D. Ordoñez
