Rocking the Boat: The Philippines Trade Strategy Amid Rising Geoeconomic Tensions
“The Philippines enjoys a comparative advantage in the technology sector. The Philippine semiconductor market, which has benefited greatly from the global uptick in semiconductor demand, is transitioning into more specialized areas, such as integrated circuit design and fabrication. Its semiconductor industry is expected to grow 10–15 percent annually until at least 2027. When the U.S. Secretary of Commerce, Gina Raimondo, visited Manila in March 2024, she said that the United States is “all in on the Philippines” as a key player in diversifying semiconductor industry supply chains. Under the Chips and Science Act’s International Technology, Security, and Innovation Fund, the United States designated the Philippines as a partner country to incentivize the Philippine semiconductor industry to become more conducive for U.S. investors by funding initiatives such as training 128,000 semiconductor engineers and technicians by 2028…”
Read the full report from the Center for Strategic and International Studies.