THE Department of Trade and Industry (DTI) made its pitch in the Netherlands for more semiconductor investment, citing the Philippines’ capable workforce and surging global chip demand.
Trade Secretary Alfredo E. Pascual made the remarks during a roundtable in the Netherlands on semiconductors, automotive components, and integrated circuit design on June 30.
The conference was attended by Dutch semiconductor and high-tech companies in the Nijmegen and Eindhoven areas, where most of the country’s major tech companies are based. The participants are members of the industry association High Tech NL Semiconductors.
Mr. Pascual said the Philippines offers “a one-of-a-kind opportunity to reduce costs while maximizing value-add to effectively service worldwide clients.”
Mr. Pascual cited recent reforms such as the Corporate Recovery and Tax Incentives for Enterprises Act, which offers foreign investors more attractive and rationalized incentives, as well as the amended Public Service Act, Foreign Investments Act, and Retail Trade Liberalization Act that ease the restrictions on foreign ownership in certain industries.
“The Philippines boasts a vast number of engineers and robust workforce, having a nearly competitive integrated circuit (IC) design engineers and experience in Fin field-effect transistor (FinFET) technology,” he added.
FinFET technology is used in home computers, laptops, tablets, smartphones, wearables, high-end networks, and automotive electronics.
The Philippine semiconductor industry has set a 5% export growth target for 2023. Last year, the industry posted 6.88% export growth to $49.09 billion.
The chip industry meeting is part of the DTI’s Europe Investment Roadshow, which runs until July 6. — Revin Mikhael D. Ochave
Trade delegation pitches chip projects to Dutch companies
Source: Bantay Radio
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