July 23, 2024 /SemiMedia/ -- According to reports, in order to strengthen semiconductor production capabilities throughout the Western Hemisphere, the US government, in cooperation with the Inter-American Development Bank (IDB), launched the CHIPS ITSI Western Hemisphere Semiconductor Program.

This groundbreaking initiative, supported by the CHIPS Act’s International Technology Security and Innovation (ITSI) Fund, aims to increase semiconductor assembly, test and packaging (ATP) capabilities in key partner countries and regions, starting with Mexico, Panama and Costa Rica.

The CHIPS ITSI Western Hemisphere Semiconductor Initiative will launch in 2024 and run through 2026. The initiative is expected to enhance regional capabilities and set a precedent for inclusive economic growth and global technological advancement. To advance these goals, the ITSI Fund also supports a semiconductor-focused multilateral platform to advance the goals of the Partnership for Economic Prosperity in the Americas.