President Ferdinand R. Marcos Jr. has called on the government and stakeholders to prioritize the development of the semiconductor and electronics industry, recognizing its significant economic benefits for the Philippines.
During a meeting with the Private Sector Advisory Council-Education and Jobs Sector Group (PSAC-EJSG) at Malacañan Palace on Tuesday, President Marcos discussed updates on previous recommendations and new proposals related to the semiconductor and electronics industry, education, and workforce development.
“We need to push the semiconductor industry forward. The income we generate from exports is substantial,” President Marcos stated during the meeting.
He emphasized the importance of focusing on the industry and invited suggestions from industry representatives on how to proceed. “We need to hear from the industry to see what you suggest and what we can incorporate,” he said.
President Marcos suggested implementing changes through the Implementing Rules and Regulations (IRR) for quicker execution. He acknowledged the challenges faced in getting the CREATE MORE Law passed and noted that similar incentive schemes could be applied to the semiconductor industry.
The President highlighted the need to grant incentives to semiconductor locators, similar to those extended to other industries, such as car manufacturing. “In terms of CREATE MORE, there is nothing specific for the semiconductor industry, while other industries have received incentives,” he pointed out.
The PSAC-EJSG recommended reviewing the IRR of the CREATE MORE Law to include provisions for the semiconductor industry. They also presented the country’s semiconductor and electronics roadmap to President Marcos.
Additionally, the PSAC-EJSG proposed the creation of a National Education and Workforce Development Plan (NatPlan), which received the President’s support.
