The Anti Red Tape Authority (ARTA) and the British government have expanded their collaboration to include the semiconductor industry and facilitate the entry of investors, particularly in the copper and nickel sector.
Secretary Ernesto V. Perez, director-general of ARTA, and Michael Edward Welch, Charge d’ Affaires of the British Embassy Manila, led the signing of a Memorandum of Understanding (MOU) on Tuesday, September 30, in Makati City.
The MOU aims to to enhance regulatory quality, streamline processes, and support the broader ease of doing business and governance of the Philippines.
Previously, British government already supported the conduct of tracer studies for the telco and energy sectors, leading to the establishment of one-stop shops for both. “These are two vital sectors in diving the economy forward,” he said.
The tracer study evaluates the impact and outcomes of reform initiatives to ensure evidence-based improvements.
Perez explained they chose semiconductor as the third sector because of its huge economic potential for the country. Electronics is the country’s number one merchandize export. Aside from that, the Philippines has huge critical mineral deposits particularly copper and nickel, which are critical component in semiconductor manufacturing.
The government is also trying to join the electric vehicle manufacturing bandwagon by maximizing the use of its resources in the production of components, particularly EV batteries. This means attracting investors in the downstream sector – nickel and copper — rather than continue exporting raw nickel ore.
To facilitate the entry of investors, ARTA will capacitate government agencies and determine regulatory bottlenecks to improve ease of doing business in the semiconductor industry.
Already, Perez said, there have been keen interest by foreign investors in the Philippines nickel and copper sectors.
The tracer study will also help ARTA and other government agencies involve to streamline the process for semiconductor. This may lead to the establishment of one-stop-shop for potential investors.
Recently, President Marcos also met with the Private Sector Advisory Council, which proposed the setting up a one-stop shop for semiconductor.
“So this assistance that we’re getting from the British government comes in at the right time and the opportune time. They will help us expedite the process,” said Perez.
“With this, we hope to attract more investors and we’re getting investors expressing interest to invest in the Philippines,” he said.
