American microprocessor manufacturer Texas Instruments Inc. (TI) is looking at investing up to $1 billion for the expansion of its Clark and Baguio City facilities, the Presidential Communications Office (PCO) said yesterday.
The PCO, in a news release, said officials of TI are set to submit in two weeks an application covering the expansion of its Clark and Baguio City sites under the Corporate Recovery and Tax Incentives for Enterprises.
The plan was disclosed during the courtesy call of the members of the United States-Association of Southeast Asian Nations Business Council on President Marcos Jr. in Malacañang last Wednesday.
The President welcomed TI’s investment plan as this would generate jobs and increase exports.
He said the Philippines has also undertaken a very comprehensive program of upskilling and reskilling its workers to be able to take advantage of the new niches in the labor demand and the labor market.
TI first began its operations in the Philippines in 1979 through a manufacturing facility at the Baguio City Export Processing Zone which expanded its operations at the TI Clark Special Economic Zone at Clark in Pampanga in 2009.
