The National Government announced today that the United States has chosen our country as one of the few countries selected worldwide with which a collaboration will be established to strengthen the global semiconductor value chain, commonly known as CHIPS.
“Panama’s unparalleled logistics capabilities, favorable business environment, and remarkable political stability make it an exceptional choice as a semiconductor assembly, packaging, and testing center,” said President Laurentino Cortizo Cohen.
“The expansion of this industry in Panama has the potential to create well-paid jobs, particularly for young people, while improving the technological capabilities of our country’s skilled workforce,” according to the President of the Republic.
He further explained that this is part of his administration’s ongoing commitment to create opportunities for the next generation of Panamanians, particularly in the technology sector.
Collaboration with the United States represents a crucial step to strengthen the resilience and competitiveness of this vital industry,” said the president when announcing this important agreement.
As an initial step within this newly formed partnership, the United States and Panama will collaborate closely to conduct an in-depth assessment of the country’s existing semiconductor ecosystem, with the goal of identifying Panama’s strengths and areas for improvement within the sector, providing valuable insights for future collaborations in the development of this critical industry.
The review will be funded by the International Fund for Technological Security and Innovation (“ITSI Fund”).
Approved under the CHIPS Act of 2022, the fund is administered by the US Department of State for the purpose of supporting and fostering collaboration with countries it has deemed critical to the semiconductor industry.
Panama recognizes the importance of semiconductor technology as a cornerstone of economic growth, national security, and technological innovation. It plays a key role in various industries, including telecommunications, automotive, healthcare and consumer electronics.
With the rapid evolution of digital transformation and increasing reliance on advanced electronics, securing the semiconductor value chain has become a global imperative.
Recognizing the importance of workforce development in high-tech fields such as semiconductors, the Government of Panama has entered into discussions with Arizona State University, the leading innovation institution and renowned player in the semiconductor industry.
Panama’s goal is to create a platform for cooperation with the university, with the goal of cultivating a skilled Panamanian workforce capable of taking advantage of promising opportunities, such as the one presented by the United States.
