Texas Instruments investing USD 1 billion in Philippines on a new plant

Texas Instruments investing USD 1 billion in Philippines on a new plant

The Philippines government has confirmed that they have won a $1 billion investment plan from the world’s biggest maker of mobile phone chips Texas Instruments.

This investment would further boost the country’s effort to attract fresh foreign direct investment. Philippines has been struggling to lure more companies into investing in the country as the general perception is that the country is full of corruption and regulatory risks.

Recent reports from Transparency International have ranked the country the most corrupt in Asia. This means that most tech companies have preferred to invest in other Asian countries like China and Vietnam.

TI has now said that they are now planning to build an assembly and testing facility in the country. Dennis Posadas, a former Intel engineer and author of a book on technology entrepreneurship in Asia spoke about this investment: “The Philippines is again on the radar screen of big semiconductor multinational companies. The global chipmakers are unlikely to keep all their eggs in just one basket.”