{"id":45200,"date":"2023-07-07T17:58:26","date_gmt":"2023-07-07T17:58:26","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/?p=45200"},"modified":"2023-07-07T10:22:12","modified_gmt":"2023-07-07T10:22:12","slug":"eu-attracted-nearly-100b-investment-in-semiconductor-industry-eu-commission-chief","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/eu-attracted-nearly-100b-investment-in-semiconductor-industry-eu-commission-chief","title":{"rendered":"EU attracted nearly $100B investment in semiconductor industry: EU Commission chief"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>The European Union has attracted over \u20ac90 billion ($98 billion) worth of investment in the semiconductor industry since its landmark law was announced, EU Commission chief Ursula von der Leyen said on Friday.<\/p>\n

Von der Leyen made these observations while speaking at a joint news conference with Belgian Prime Minister Alexander De Croo during their visit to the headquarters of the Interuniversity Microelectronic Centre, a non-profit research and development organization specializing in nanotechnology, in Leuven, Belgium.<\/p>\n

\u201cMore than \u20ac90 billion industrial investment in Europe has been announced\u201d since the EU executive body proposed the European Chips Act in February 2022, von der Leyen highlighted.<\/p>\n

She said though the law will enter into force by autumn, it \u201cis sending a very powerful message and providing concrete opportunities\u201d as companies have announced various new ventures across the EU, including Italy, Ireland and France.<\/p>\n

She also cited examples of a \u20ac12 billion ($13 billion) investment in semiconductor packaging and test facility in Poland and another \u20ac30 billion ($32.6 billion) for \u201ctwo first-of-a-kind fabs in Magdeburg, Germany.\u201d<\/p>\n

Von der Leyen stressed that semiconductors \u201care essential for our green and digital transition\u201d and \u201cour economy would not function without chips.\u201d<\/p>\n

She also asserted that the bloc must reduce its \u201cdependency on the few suppliers from East Asia\u201d as part of its strategy to de-risk supply chains by promoting \u201cdesign, testing and production here in Europe.\u201d<\/p>\n

By channeling public and private funds into the industry, the EU aims to increase its global market share of semiconductors from 10 to 20% by 2030 through the European Chips Act.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. The European Union has attracted over \u20ac90 billion ($98 billion) worth of investment in the semiconductor industry since its landmark law was announced, EU Commission chief Ursula von der Leyen said on Friday. 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