Mindanao economy posts 7.2% GRDP growth in ‘22

Analog Devices, Inc. to invest

$200M

in R&D facility in PH

American multinational semiconductor company Analog Devices, Inc. (ADI) on Tuesday (US time) announced its plan to invest USD200 million (PHP11 billion) in a new research and development (R&D) facility as part of its expansion efforts in the Philippines.

ADI made the announcement during a meeting with President Ferdinand R. Marcos Jr. at the Blair House in Washington DC.

The R&D facility shall be an addition to the firm’s LEED certified production facility at the Gateway Business Park in Cavite.

Marcos expressed gratitude to the company for its continued trust and investments in the country, as he affirmed the government’s support to ADI’s future endeavors.

During the meeting, Marcos asked company officials how they would proceed in the future beyond the R&D facility that they are planning in the Philippines.

An ADI official said the company would continue to decide on the manufacturing aspects and change the manufacturing operation to focus more on cur- anao, the PSA said Davao Region led the pack with an impressive 8.15 percent growth rate, while Caraga trailed behind at 5.9 percent. rent technology.

Mindanao has once more demonstrated its worth as a key contributor to the country’s economic growth by posting 7.2 percent Gross Regional Domestic Product (GRDP) last year.

“So rather than the more basic stuff that may have been done 15, 20 years ago, we have continued to increase the level of technology that’s been introduced since the planning,” the official told the President. “So today you hear about 300 mm wafers, 12inch wafers, in there. Well, those wafers now come down and we are setting up a 300-mm Center of Excellence in Cavite, which is doing all of the wafer programs and associated with our products.”

ADI’s Philippine counterpart, Analog Devices General Trias, Inc. (ADGTI), engages in the manufacture, assembly, semi-conductor devices testing, and dice inspection.

As of 2022, ADGTI has 5,252 employees, with a total of USD394.39 million worth of exports for the same year.

ADGTI is also carrying out the ADI University Program in the Philippines, which is comprised of different activities in providing engineering students with the opportunity to further develop the theory and application of analog circuit design. (PNA)

In a statement Wednesday, the Mindanao Development Authority (MinDA) pointed to the “much-improved peace and order” situation in Mindanao in recent years as one of the main contributing factors to the island region’s economic growth.

Despite the challenges posed by the coronavirus disease 2019 pandemic, MinDA pointed out that Mindanao has shown resil- ience and adaptability in its economic activities, thereby attracting more investors and tourists to the area.

The Philippine Statistics Authority (PSA), in a separate statement Tuesday, noted Mindanao’s remarkable economic standing in 2022 as only slightly lower than the national GDP of 7.6 percent.

Among the regions in Mind-

The other expanses in Mindanao—Regions 9, 10, 12, and the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM)— also recorded positive growth rates ranging from 6.59 percent to 7.5 percent.

Still, MinDA chair Maria Belen Acosta said there is still much work to be done to sustain and further accelerate Mindanao’s growth trajectory.