WORLD · VERIFIED DEVELOPMENT
Philippines' High-Tech Dreams Meet Reality Check in Luzon Economic Corridor
WHY IT MATTERS
The Philippines' ability to attract high-tech investment and become a global player in industries like AI and semiconductors will depend on its ability to build its digital infrastructure and improve its business environment, making it a more attractive destination for investors.
What happened
The Luzon Economic Corridor, touted as a hub for artificial intelligence, advanced computing, and semiconductor research, has a $20-B pipeline with only 0. 1% allocated for advanced manufacturing.
The Philippines needs to build its digital infrastructure and improve its business environment to attract high-tech investment. Finance Secretary Frederick Go acknowledged the gap between the government's vision and reality, stating that the country must work hard to deserve its place in the global high-tech industry.
The Philippines has to earn its place by building the basics first, such as power, water, and logistics, and improving its ease of doing business and predictability.
PRIMARY SOURCES
High-tech dreams, low-tech reality of the Luzon Economic Corridor
Rappler · Lance Spencer Yu · Discovery only; publisher copyright terms apply