DOF chief gives Pax Silica another push

MANILA, Philippines — Finance Secretary Frederick Go stepped up his promotion of the United States-initiated artificial intelligence (AI) hub in New Clark City.

“Obviously, to all of us, the technology of the future is AI and anything tech,” Go told journalists on Friday. “I think both sides are very excited to get this moving along because I really believe this could be a generational type of project.”

“If we want to be a player in the AI industry in the future, we need to start somewhere. This is really a great start because now, once you have the ecosystem, one thing leads to another,” he said.

Article continues after this advertisement

READ: 50 firms keen on PH ‘Pax Silica’ hub

FEATURED STORIES

NEWSINFO

NEWSINFO

NEWSINFO

READ: BIZ BUZZ: Pax Silica nears 2026 deal milestone

AI hub dream

Conceived in December last year, the Philippines only signed in April the Pax Silica agreement which aims to secure supply chains for advanced technologies such as semiconductors and rare earth elements, reducing reliance on China.

Go considers the initiative “generational” because of its potential to generate “hundreds and thousands of jobs,” develop a hub for AI and microchip manufacturing and ensure the country a place in the global technology value chain.

“The Pax Silica project is on top of the priority list of the American side,” Go said of the US initiative.

Article continues after this advertisement

Only seven months after Pax Silica’s inception, the government has identified a 1,619-hectare site in New Clark City and has initiated talks for a definitive agreement by August for the property that will be managed by the Bases Conversion and Development Authority (BCDA), the property’s “landlord.”

BCDA president and CEO Joshua Bingcang earlier said about 50 companies were keen on Pax Silica, but has so far identified only Taiwanese electronics manufacturing giant Foxconn is already conducting due diligence as a prospective anchor locator.

Article continues after this advertisement

“If Foxconn does come in, I imagine it would be the single largest (investment),” Go said, adding that he expects the investment to reach billions of dollars.

Your subscription could not be saved. Please try again.

Your subscription has been successful.