The United States has identified its Pax Silica-related initiatives in the Philippines as one of its top priorities, with Manila looking to generate hundreds of thousands of jobs from a significant investment. The Department of Finance announced that the project is a key focus area for Washington, with plans to fast-track developments in the country.
Finance Secretary Frederick D. Go revealed that US Ambassador to the Philippines expressed enthusiasm for the Pax Silica project, citing its importance to the US economic agenda. The project aims to secure global AI supply chains and position the Philippines as a major player in the technology sector.
The Philippines' inclusion in Pax Silica is expected to generate substantial job opportunities for Filipinos, as the country seeks to become a global hub for artificial intelligence and chip manufacturing. The initiative involves developing a 1,618-hectare AI-native hub in New Clark City, Tarlac, which is anticipated to attract significant investments in AI and chip manufacturing.
The Philippines is one of 23 countries that have signed on to the Pax Silica initiative, which aims to promote cooperation and investment in the AI sector. The Department of Finance is optimistic about the project's potential, with Secretary Go describing it as a "generational type of project" that could have a lasting impact on the country's economy.
A framework agreement under the Pax Silica initiative is expected to be signed before the end of the year, with both sides eager to move forward with the project. The agreement is seen as a crucial step in solidifying the partnership between the US and the Philippines in the AI sector.
