INVESTMENT promotion agencies (IPAs) are seeking to attract more types of companies engaged in electronics manufacturing services and semiconductor manufacturing services (EMS-SMS).
In a statement on Monday, the Philippine Economic Zone Authority (PEZA) saidt it discussed the next steps for the EMS-SMS industry with the Board of Investments (BoI) during a Semiconductor and Electronics Industries in the Philippines Foundation (SEIPI) board meeting.
In particular, PEZA said that the discussion revolved around the push to explore other types of EMS-SMS businesses to attract to the Philippines.
During the meeting, PEZA pitched the inclusion of power electronics and printed circuit board (PCB) design companies in the priority investment list.
This subsector’s products include multi-layer ceramic capacitors, silicon carbide, power devices, micro-inverters, and PCBs as the platform for integrated circuits (IC).
“These will complement the product segments identified by the BoI, such as ATP (assembly, testing, and packaging), IC design, and electronics manufacturing services,” PEZA said.
“Leveraging the Philippines’ strong partnership with the US and its performance in the ASEAN region, PEZA strengthens initiatives towards attracting more industries into the country, especially those into electronics and semiconductor manufacturing,” it added.
The EMS-SMS industry is among the industries identified by the Marcos administration as a priority industry to attract investment from this year.
This dovetails with “the various advantages the Philippines is presented with, like the US CHIPS and Science Act and the renewed talks for a PH-US free trade agreement (FTA).”
Last month, the Department of Trade and Industry said that it will renew its efforts to secure a bilateral FTA with the US. — Justine Irish D. Tabile
