Bloomberg — Panama’s government said it can help the US diversify and secure its semiconductor supply chain as geopolitical tensions increase the risk of global chip shortages.
Panama’s inclusion as a partner under the US Chips Act will allow chip-makers to nearshore packaging and distribution in Panama, a regional logistics hub, and protect supply chains from disruptions in Asia, Panama’s Minister of Trade and Industry Federico Alfaro Boyd said.
“Panama is one of the most connected countries in Latin America and we have huge experience when it comes to supply chains because of the Panama canal and the ports,” Boyd said in a telephone interview from Panama.
The U.S. announced last week it would partner with Panama to boost global semiconductor supplies and potentially provide the country with money under the U.S. Chips Act. Boyd said that under partnership, Panama will seek to have semiconductors manufactured in the US sent in bulk to Panama, to then be repackaged and shipped to their final destination.
Read more on Bloomberg.com
