The Philippines is one of the countries chosen by the US as partners under the CHIPS and Science Act, wherein the US government earmarked $500 million for the International Technology, Security, and Innovation (ITSI) Fund to be spent over the next five years in the partner countries.
The Philippine government, through the Board of Investments (BOI), said it is looking to venture into semiconductor design and establish a lab-scale wafer fabrication plant in the country.
US undersecretary for economic growth, energy, and the environment Jose Fernandez said the Philippines, along with Vietnam, Panama, Puerto Rico, and Mexico will receive funding from the US government to make the ecosystem of their local semiconductor industry more conducive to US investors.
