US plans semiconductor, Nickel processing projects in Philippines as defence ties grow

News Snapshot:

Amid strained relations with China over competing territorial claims in the South China Sea, the Philippines is enhancing economic cooperation with both the US and Japan to counter China’s aggression. The US has announced plans to support infrastructure, semiconductor, and nickel processing projects in the Philippines, as the long-time allies seek to strengthen investment partnerships following the revitalisation of defence ties. Outlined in a White House fact sheet released on Thursday, these initiatives coincide with Philippine President Ferdinand Marcos Jr.’s visit to Washington, where he participated in his first trilateral meeting with President Joe Biden and Japanese Prime Minister Fumio...