The United States government has chosen Panama as one of the few countries worldwide with which a collaboration will be established to strengthen the global value chain of semiconductors, commonly known as "chips"  reports TVN.

The Ministry of the Presidency indicated that within this newly formed association, the US and Panama will collaborate closely to carry out an in-depth evaluation of the existing semiconductor ecosystem in the country, with the objective of identifying Panama's strengths and areas of improvement within the sector, providing valuable ideas for future collaborations in the development of this critical industry. The review will be funded by the International Fund for Technological Security and Innovation (“ITSI Fund”).

The fund is administered by the US Department of State for the purpose of supporting and fostering collaboration with countries it has deemed critical to the semiconductor industry.

Panama recognizes the importance of semiconductor technology as a cornerstone of economic growth, national security and technological innovation. It plays a key role in various industries, including telecommunications, automotive, healthcare and consumer electronics.

The Government of Panama has entered into discussions with Arizona State University, the leading innovation institution and renowned player in the semiconductor industry.

Semiconductors are especially useful in the electronics industry, since they allow conducting and modulating electrical current according to the necessary patterns. For this reason, it is usual that they are used

Semiconductors are used in almost all sectors of electronics.

Mobile phones, laptops, game consoles, microwaves, and refrigerators are powered by the use of semiconductor components such as integrated chips, diodes, and transistors.