A number of foreign firms are in talks with the Philippine government to expand their respective operations in the country, according to Department of Finance (DoF) Secretary Frederick Go.

Speaking at the ASEAN Editors and Economic Opinion Leaders Forum in Makati on Tuesday, the finance chief said major businesses from the semiconductor, electronics and electric vehicle (EV) industries are eyeing potential expansions in the Philippines.

“We continue to receive a lot of international semiconductor firms and electronic firms that continue to expand in the Philippines or enter the Philippines for the first time,” Go said, noting the recent P50.7-billion expansion of Samsung Electro-Mechanics Philippines Corporation at its semiconductor components facility in Calamba, Laguna.

The South Korea-backed investment is expected to generate more than 3,500 jobs and support the production of multilayer ceramic capacitors used in electric vehicles and smart devices.

Semiconductor exports still on the lead

Semiconductor exports remain the Philippines’ top export industry, with recent estimates projecting around $45–$47 billion worth of semiconductors to be exported in 2025 alone.

Sent mostly to Hong Kong, China, and the United States, the chips are commonly used in smartphones, laptops, tablets, as well as emerging technologies such as electric vehicles and artificial intelligence.

On Sunday, following former US President Donald Trump’s circumvention of the US Supreme Court ruling that abolished his blanket tariffs, Go reiterated the country’s commitment to maintaining business ties with the United States, calling it “an important trade and investment partner.”

He noted that many key Philippine exports — such as semiconductors and agricultural goods — had already been exempted from tariffs even before the Supreme Court decision.

EV manufacturing business here

Go added on Tuesday that the government, through the Department of Trade and Industry (DTI), is also in talks with a company seeking to register an electric vehicle manufacturing business in the Philippines.

“We have to create new markets for the Philippines to trade with and sell to, which is why the activities being engaged in by your economic team, by the DTI signing more economic partnership agreements and free trade agreements, are really important for our industries to grow,” he said.

Meanwhile, DTI Secretary Cristina Roque said the company’s identity remains confidential due to ongoing negotiations, though she confirmed the investment would be significant.

“I cannot say the brand or the nationality as it’s still confidential. But definitely, yes, a foreign EV manufacturer will enter. That’s a big one. We are still in talks, but these are talks that are really progressing,” she said.