Phl should focus on semiconductor manufacturing
The Philippines should focus more on semiconductor manufacturing if it wants to attract foreign investment and improve its economy more quickly amid the current AI boom, instead of focusing on data centers that would take longer to put up because of their numerous requirements, which include power reliability, network connectivity and geographic stability.
The Philippines should prioritize semiconductor manufacturing to attract foreign investment and boost its economy rapidly, according to HSBC Philippines CEO Sandeep Uppal. Speaking at the country's third annual business summit, Uppal argued that the nation's infrastructure for manufacturing, including roads, ports, and airports, already exists and should be utilized for semiconductor production.
Uppal emphasized the importance of execution over new ideas, urging the government to complete existing public-private partnership programs and expedite projects such as the North-South Commuter Railway, Cavite-Bataan, and the New Clark City initiative. He noted that while the Philippines may have slightly higher electricity costs, the country's advantageous logistics position near Clark Airport and Subic Seaport could provide a competitive advantage.
HSBC Asia economist Frederic Neumann concurred, pointing out that the BPO sector is thriving despite AI advancements and that semiconductor manufacturing could offer further opportunities for economic growth.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
