financetom
Business
financetom
/
Business
/
Philippines, US to build industrial hub to strengthen supply chain security
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Philippines, US to build industrial hub to strengthen supply chain security
Apr 16, 2026 7:49 PM

MANILA, April 17 (Reuters) - The United States and the Philippines will build a 4,000-acre (1,620 hectares) industrial hub after Manila joined a Washington-led initiative to secure AI and semiconductor supply chains, the U.S. State Department said in a statement. 

The Philippines becomes the 13th country to join Pax Silica, a program seeking to safeguard the full technology supply chain, including critical minerals, advanced manufacturing, computing and data infrastructure. 

The intiative is a key pillar of the Trump administration's economic statecraft strategy aimed at reducing its dependence on rival nations and strengthen cooperation among allied partners. Other signatories include Australia, Finland, India, Qatar, South Korea and Singapore. 

The new industrial hub will be built in the Luzon Economic Corridor, a strategic hub for economic activity that includes the capital Manila and neighboring regions with industrial and manufacturing activities. The Philippines, Japan and the United States have committed to ramp up infrastructure investments in the corridor under a trilateral framework agreement. 

"It is intended to serve as a staging point for a purpose-built platform for allied manufacturing," the State Department said in a statement. 

"The two Allies are committed to strengthening shared supply chains in critical minerals, semiconductors, electronics, and other goods," it added. 

Relations between Manila and Washington have blossomed under Philippine President Ferdinand Marcos Jr., who has pivoted closer to the United States. The former U.S. colony is also central to Washington's efforts to counter China's assertiveness in the South China Sea.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Popular Raises Dividend, Launches $500 Million Share Buyback Plan
Popular Raises Dividend, Launches $500 Million Share Buyback Plan
Jul 16, 2025
04:55 PM EDT, 07/16/2025 (MT Newswires) -- Popular (BPOP) said Wednesday it's increasing its quarterly dividend to $0.75 from $0.70 per share, starting with the dividend payable in Q4, subject to the approval of the board. The company also said it's launching a new share buyback program of up to $500 million, in addition to the $500 million program announced...
Sarepta to Cut 500 Jobs in Restructuring; Shares Rise After-Hours
Sarepta to Cut 500 Jobs in Restructuring; Shares Rise After-Hours
Jul 16, 2025
05:00 PM EDT, 07/16/2025 (MT Newswires) -- Sarepta Therapeutics ( SRPT ) said late Wednesday it's launching a restructuring plan that includes cutting expenses, delivering $400 million in annual cost savings, and implementing a 36% workforce reduction of about 500 employees. The company said the plan is designed to keep access to its $600 million revolving credit facility and generate...
Sarepta Therapeutics Stock Is Surging After The Bell: What's Going On?
Sarepta Therapeutics Stock Is Surging After The Bell: What's Going On?
Jul 16, 2025
Sarepta Therapeutics Inc ( SRPT ) shares are soaring in Wednesday’s after-hours session after the company announced a strategic restructuring and cost-cutting measures. What To Know: After the market close on Wednesday, Sarepta Therapeutics ( SRPT ) introduced a strategic restructuring plan that involves focusing on high-value, high-impact programs and supporting long-term financials. Sarepta said it initiated immediate changes to...
Copyright 2023-2026 - www.financetom.com All Rights Reserved