(Photo by PCO)
President Ferdinand Marcos Jr. expressed optimism over the planned US-led Pax Silica initiative in Central Luzon, citing its potential to attract investments, generate jobs and strengthen the Philippines’ position in global technology supply chains.
Speaking at the 24th Forbes Global CEO Conference in Singapore on Thursday, Marcos said the initiative would support the country’s efforts to expand its semiconductor industry, strengthen research and development, and develop advanced manufacturing capabilities.
“Pax Silica came along, and we saw that it was a grand opportunity for the Philippines to inhabit more of that value chain that we already had begun,” Marcos said.
“That is one of the big areas that we are terribly excited about,” he added.
Pax Silica is a proposed high-technology manufacturing and innovation hub under the Luzon Economic Corridor, designed to strengthen cooperation in semiconductors, artificial intelligence (AI), energy, critical minerals, advanced manufacturing and logistics.
The Philippines joined the Pax Silica coalition in April. The initiative currently involves 24 signatory countries, with Taiwan participating as a non-signatory.
The project is projected to attract up to USD70 billion in investments and create approximately 190,000 high-quality jobs for Filipinos.
Marcos said the initiative would allow the Philippines to participate in more stages of the semiconductor value chain, moving beyond existing manufacturing activities toward chip production, design and innovation.
He also highlighted government efforts to improve the investment climate by simplifying business procedures and easing foreign ownership restrictions in key industries.
“We have tried to streamline many of the processes for businesses to come in and to make it easier for business and make us a more attractive investment destination,” the President said.
Marcos emphasized that the country’s young, skilled and English-speaking workforce remains a major advantage in attracting international investors and supporting emerging industries.
He said continued government support and stronger international partnerships would help the Philippines keep pace with rapid technological developments.
“If we are to keep up with the rest of the world, it’s a necessary development that we felt the Philippines needed to do,” Marcos said.
“With proper government support, these initiatives will start to breed some of these new industries,” he added.
The administration sees Pax Silica as an opportunity to expand the country’s role in advanced technology production while creating new employment opportunities and strengthening long-term economic competitiveness.
