United States (US) and Philippines to develop 4,000-acre industrial hub under Pax Silica initiative

Key facts

• The Philippines has joined the United States (US)-led Pax Silica initiative as its 13th member to secure technology supply chains for semiconductors and Artificial Intelligence (AI).
• A 4,000-acre industrial hub will be developed in the Luzon Economic Corridor, covering Manila and surrounding industrial zones, under a trilateral framework involving the US, Japan, and the Philippines.
• The Pax Silica programme includes international partners such as India, South Korea, Singapore, Qatar, and the United Arab Emirates (UAE).
• The industrial hub is designed to support the processing of critical resources including nickel, cobalt, and copper to strengthen the global minerals-to-chips ecosystem.
• The European Union (EU) and the US are coordinating a framework for critical mineral supplies that includes minimum price guarantees for non-Chinese suppliers.
• The International Monetary Fund (IMF) has placed 27 out of 45 sub-Saharan African countries under financial programmes due to fiscal strain from regional conflicts and reduced foreign aid.