By Caribbean News Global
WASHINGTON, USA – On Wednesday, to bolster semiconductor production capabilities across the Western Hemisphere, the US Department of State, in collaboration with the Inter-American Development Bank (IDB), unveiled the CHIPS ITSI Western Hemisphere Semiconductor Initiative.
“This groundbreaking initiative, supported through the CHIPS Act International Technology Security and Innovation (ITSI) Fund, enhances semiconductor assembly, testing, and packaging (ATP) capabilities in key partner countries, beginning with Mexico, Panama, and Costa Rica,” said the US Department of State.
“Under the Initiative, the IDB will support public-private partnerships and implementation of OECD recommendations tailored to enhance the semiconductor ecosystems in targeted countries. This collaborative effort underscores a commitment to international policy alignment and sustainable economic development. This Initiative will also build on the IDB’s ongoing work through the Americas Partnership for Economic Prosperity to strengthen the competitiveness of regional semiconductor supply chains,” the office of the spokesperson reports.
The CHIPS ITSI Western Hemisphere Semiconductor Initiative will commence in 2024 and continue through 2026. This initiative will strengthen regional capabilities and set a precedent for inclusive economic growth and global technological advancement.
“To that end, the ITSI Fund has also supported a semiconductor-focused multilateral platform that advances Americas Partnership for Economic Prosperity objectives.”
Launch of Americas Partnership for Economic Prosperity’s Semiconductor Workforce Symposium: Expanding the Supplier Ecosystem
Meanwhile, secretary Blinken announced at the America’s Partnership for Economic Prosperity Ministerial the US Department of State and Mexico’s Secretariat of Economy would host the Americas Partnership Semiconductor Symposium: Expanding the Supplier Ecosystem on September 5-6, 2024, in Mexico City.
The Symposium will focus on expanding and diversifying the semiconductor assembly, testing, and packaging (ATP) ecosystem in Americas Partnership countries.
A secure semiconductor supply chain ecosystem in the Western Hemisphere is critical to the Biden administration’s goals, including the successful implementation of the CHIPS Act. The Symposium will bring together industry, particularly small and medium-sized suppliers, governments, academia, and labor to identify key challenges, explore emerging opportunities, and develop strategies for sustainable growth and collaboration in this critical industry.
“These efforts will work towards achieving one of the Americas Partnership’s priority goals of bolstering the semiconductor industry and capacity in the Western Hemisphere. This event builds upon the Americas Partnership Semiconductor Workforce Symposium: Building Technical Capacity for a Skilled 21st Century Workforce, hosted in Costa Rica in January 2024.”
Under president Biden’s leadership, the US Department of State is committed to working with Americas Partnership countries to explore opportunities to grow and diversify the global semiconductor ecosystem, including through the International Technology Security and Innovation (ITSI) Fund, created by the CHIPS Act of 2022.
“These efforts will support collaboration with countries on a suite of new diplomatic and capacity-building programs to create a more resilient, secure, and sustainable global semiconductor supply chain,” said the office of the spokesperson, US Department of State.
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