US eyeing to boost Phí chip output

The US has committed to help double the number of semiconductor facilities in the Philippines as part of efforts to diversify its chip supply chain.

- Louella Desiderio

US Secretary of Commerce Gina Raimondo said the US is looking to diversify its chip supply chain, which provides an opportunity for the Philippines’ semiconductor industry.

“I think there’s a moment right now in the (semiconductor) supply chain for your country,” Raimondo said during the joint general membership meeting of business groups American Chamber of Commerce of the Philippines, Makati Business Club, US-ASEAN Business Council and the Management Association of the Philippines yesterday.

Raimondo is leading the US presidential trade and investment mission to the Philippines aimed at strengthening ties between the two countries.

She said US companies have realized their chip supply chain is too concentrated in just a few countries.