In a recent meeting with the Private Sector Advisory Council-Education and Jobs Sector Group (PSAC-EJSG) at Malacañang, President Ferdinand R. Marcos Jr. emphasized the urgent need to advance the semiconductor and electronics industry in the Philippines. He highlighted the sector’s significant potential to enhance the national economy, noting that it has not been a traditional focus but is crucial due to the substantial revenue it generates from exports.
Marcos stressed the importance of intensifying efforts in this area, suggesting that the government should collaborate closely with industry leaders to identify and implement effective strategies. He proposed that incentives similar to those provided under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act could be beneficial. However, he pointed out that the CREATE MORE Law, which extends incentives to various sectors, does not specifically address the semiconductor industry.
The President called on the private sector to provide recommendations on how to bolster the industry. The PSAC-EJSG responded by suggesting a review of the CREATE MORE Law’s implementing rules to include provisions for semiconductors. They also presented a detailed roadmap for the development of the country’s semiconductor and electronics industry and recommended the establishment of a National Education and Workforce Development Plan (NatPlan), which Marcos endorsed.