San Francisco, California
November 15, 2023
“I am aware that your industry is a key driver of the US economy, and I am proud to say that with the many US semiconductor companies being hosted in the Philippines, we have become an integral part of your supply chain,” says President Ferdinand R. Marcos Jr. as he convenes with the leaders of the Semiconductor Industry Association (SIA) for a roundtable discussion in San Francisco, California on November 15, 2023.
According to its online profile (www.semiconductors.org), the SIA advances policies in helping the industry grow and uniting semiconductor companies around common challenges. The Association advocates and organizes industry action on defining strategies to promote and maintain world leadership in technology for its members, promoting fair and open trade, among others.
President Marcos Jr.’s meeting with the SIA is being held to discuss investment opportunities in the industry and identify ways for stronger cooperation between the Philippines and the United States of America (USA).
He reports that in 2022, the Philippines’ bilateral merchandise trade to the United States has soared to US$21.29 billion, predominantly accounted for by Philippine exports of semiconductors and electronics. He shares that the continuing cooperation in investments and trade has been a cornerstone of the two countries’ enduring partnership, with origins dating back to the 1970s when US companies, among others, established their facilities in the Philippines to support their global expansion.
“For us, collaborating with the US semiconductor companies not only addresses talent and expertise gaps on our end, but also supports the expansion of your global operations to bring you to greater heights. We assure you of this Administration’s support to keep industrial peace, provide a world-class workforce that is responsive to the needs of the industry, and enhance business environment that will be conducive to further growth,” the Chief Executive conveys, adding that the government is taking significant steps to further capacitate the Filipino workforce to become work-and-future ready and remain globally competitive for priority industries such as the semiconductor industry.
“This Administration puts the semiconductor and electronics industries as among our top priority vectors… I look forward to your valuable insights and wisdom as we commence our discussion. We are excited to know how our country can expand our participation in the US semiconductor and electronics supply chain. We are certainly here to listen,” the Chief Executive ends in his message.