During a visit to Singapore, President Ferdinand Marcos Jr. expressed enthusiasm over the US-led Pax Silica initiative, viewing it as a significant opportunity for the Philippines to elevate its position in the global semiconductor industry.
Elevating the Semiconductor Value Chain
We were already talking about moving up the value chain and not just fabricating the actual semiconductor chips, but moving into R&D, moving into design and development.
President Ferdinand Marcos Jr.
The Philippine government joined Pax Silica in April, aiming to establish a semiconductor and advanced manufacturing hub in New Clark City, Capas, Tarlac. This initiative is part of a broader strategy to attract investments in emerging technologies.
- 1,620 hectares proposed for development in New Clark City.
- Projected investments between $40 billion and $70 billion over the next decade.
Marcos highlighted that the hub could create nearly 200,000 jobs, although these figures are not yet secured. The Bases Conversion and Development Authority (BCDA) is hopeful about investments but faces scrutiny over environmental and agricultural impacts.
Addressing Environmental Concerns
Concerns have emerged regarding the hub's effects on local agricultural communities and resources. The Department of Environment and Natural Resources is still awaiting an environmental impact assessment, while the Department of Agriculture is evaluating potential impacts on farmers.
Despite these challenges, the BCDA maintains that the project aligns with New Clark City's development plan and will focus primarily on semiconductor activities.
Fostering Regional Cooperation on AI
At the Forbes Global CEO Conference, Marcos also discussed the need for ASEAN countries to collaborate on artificial intelligence and digital economies. He urged member states to prioritize discussions on AI, noting a gap in regional planning.
The ASEAN Digital Economy Framework Agreement, expected to be finalized during the upcoming summit in Manila, aims to enhance cooperation among member states in advancing their digital economies.