‘US chips bill to affect local electronics sector’ | Jovee Marie de la Cruz

Following the passage of the $280-billion Chips and Science Bill passed by the United States Congress, an economist-lawmaker has asked the Department of Trade and Industry to create a semiconductor and electronics industry competitiveness plan to protect jobs in the electronics export sector.

According to Salceda, electronics products, including semiconductors, are the country’s largest export, comprising 42 percent of total exports as of June 2022. The Philippines also exports around $22.6 billion of integrated circuits. Citing CREATE, Salceda said the Fiscal Incentives Review Board has the power to recommend to the President the grant of appropriate non-fiscal incentives in accordance with the Strategic Investment Priority Plan for highly desirable projects or very specific industrial activities and based on: benefit-cost analysis approved by the Fiscal Incentives Review Board; and containing a schedule of budgets of expenditures and sources of financing with magnitudes provisionally approved via resolution...

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