In a significant affirmation of the country’s economic potential, US Secretary of State Antony Blinken commended the Philippines as a burgeoning, vital partner during his visit to the Amkor Technology Philippines (ATP) facility, a key player in the global semiconductor scene.
PEZA Director General Panga expressed the Philippines’ readiness to escalate business ties with the US, particularly in the EMS-SMS (Electronic Manufacturing Services and Semiconductor Manufacturing Services) sectors, following the successful visit by the high-level US delegation led by Secretary Gina Raimondo.
During Secretary Blinken’s tour at the ATP’s PEZA-registered facility in Muntinlupa City, he underscored the Philippines’ strategic role in strengthening the global semiconductor supply chain, a sentiment echoing the confidence of international leaders who participated in Manila’s Country Roundtable.
Blinken’s visit highlighted the critical position of the Philippines in the global market, with Amkor having significantly contributed to the industry since 1989, generating about 10,000 direct jobs through its manufacturing facilities.
Secretary Blinken remarked on the current robust state of the Philippine economy, envisioning further expansion and collaboration, noting the country’s sizable share in the global market for semiconductor assembly, testing, and packaging.
He stressed the US’s intention to invest heavily in the Filipino tech sector, spurred by the International Technology Security and Innovation (ITSI) Fund under the CHIPS Act of 2022, focusing on enhancing the local workforce’s development.
ATP’s leadership echoed the positive sentiment, seeing this as an opportunity for the Philippines to secure a preferential stance in exporting to the US market. PEZA has confirmed its commitment to supporting the semiconductor industry, a priority sector that stands to greatly benefit from the CHIPS Act’s implications.
This initiative is expected to boost the nation’s assembly, packaging, and testing capabilities, potentially leading to integrated circuit design and wafer fabrication advancements.
As the Philippines aims to attract more industry giants, PEZA is dedicated to resolving investment barriers and promoting the country as a prime EMS-SMS destination, utilizing a holistic approach that encompasses government support and industry collaboration.
This proactive stance by PEZA and the country’s receptiveness to foreign investment were recognized by the US Department of State and US Trade Administration, which lauded PEZA’s regulatory transparency and efficient services for investors.
As of December 2023, PEZA is home to a total of 478 companies engaged in various EMS-SMS activities. These companies bring in PhP 980.497 Billion of investments, US$27.693 Billion of exports, and 363,113 direct jobs.
