Marcos wants to develop PH semiconductor industry

President Ferdinand “Bongbong” Marcos Jr. wants concerned agencies to prioritize the development of the semiconductor and electronics industry.

During a meeting with the Private Sector Advisory Council-Education and Jobs Sector Group (PSAC-EJSG) on Tuesday, Marcos recognized the industry’s significant economic benefits for the country.

The PSAC-EJSG, for its part, presented updates on previous recommendations and new proposals regarding the semiconductor and electronics industry, education, and workforce development.

“Actually, we really need to push on the semiconductor industry. It’s because, again, it’s not something that we had in mind but the situation — considering how much money we make as the income we get from exports already,” Marcos said in a press release issued Wednesday.

“We really should be focusing on it more. So, let’s do that now. So, we need to hear from the industry to see what you suggest, and what we can try to incorporate na nga,” he added,

Marcos said providing incentives to semiconductor locators, similar to what are being extended to other industries, should be one of the measures the government can focus on.

He said that in terms of CREATE MORE Act, there is no specific incentive for the semiconductor industry while other industries were given incentives such as car manufacturing.

“So, what we would need from all of you is what you think needs to be done,” Marcos said.

The President suggested it could be done through implementing rules and regulations (IRR) for quick implementation.

In December of last year, the Department of Trade and Industry (DTI), through the Board of Investments (BOI), and the Department of Finance (DOF) released interim rules to facilitate the immediate application of some provisions under the CREATE MORE Act.

The interim rules, which was published on December 17, 2024, allow investment promotion agencies to register projects and offer incentives under the new law while waiting for the law's IRR.

It also provides the process for transferring existing pre-CREATE projects, including expansion projects, to enable them to avail of CREATE incentives. 

The PSAC-EJSG had recommended the review on the IRR of the CREATE MORE Act, which will cover providing incentives for the semiconductor industry.

The group also presented to Marcos the country's semiconductor and electronics roadmap. —KG/ VAL, GMA Integrated News