28th Parliamentary Intelligence-Security Forum – Semi-Conductors and Critical Minerals: Securing and Sustaining Global Supply Chains
Dr. Sohan Dasgupta emphasized that economic security is tantamount to national security. He advocates for countries to strengthen the production and supply of semi-conductors which are essential parts used in the production of computers and phones. Semi-conductors had catalyzed investments in the United States and their sales revenue have reached up to USD7 billion. Demand for semi-conductors had outstripped supply which has been negatively impacted by piracy, illicit commerce and force majeure disruption of production, such as geopolitical conflict and the COVID-19 pandemic. Disruptions in semi-conductors supply have hurt medical device manufacturing, automotive and similar industries.
The semi-conductor supply chain is complex, multinational, and technologically multi-layered. The heterogeneity of semi-conductor applications further raises the complexity in its manufacturing and inventory management. Legislations have been enacted in various countries to provide grant incentives and investment tax credit to increase semi-conductor production.
He urged participants to consider economic security as part and parcel of national security. They who are economically strong are more able to protect themselves and their allies. Access to supply chain over significant matters is critical to economic and national security.
