financetom
Technology
financetom
/
Technology
/
Group of EU states seeks faster progress in chips industry
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Group of EU states seeks faster progress in chips industry
Mar 21, 2025 5:20 AM

THE HAGUE (Reuters) - Nine European Union countries are working to speed up plans to boost the bloc's computer chip industry and aim to present their proposals by the summer, one of the coalition's leaders said on Friday.

The coalition, which includes Italy, France, Germany, Spain and the Netherlands, is doing "homework for the new Chips Act", Dutch Economy Minister Dirk Beljaarts said in an interview, referring to a possible second EU funding programme for the semiconductor industry following the 2023 Chips Act.

That act, currently under review, failed to meet key goals but is regarded as having prevented a deterioration of Europe's industry in the face of larger state support programmes in the United States and China. 

A frequent criticism is that the process, which featured states providing funding and the European Commission approving projects, was too slow.

Beljaarts said the point was to become more targeted the second time around.

"We need to allocate funds," Beljaarts said. "Both private and public funds to push the sector, also to make sure that the trickle-down effect takes place and that (small and medium-size) companies also benefit."

He said that while Europe had top R&D and equipment players, including powerhouse ASML, gaps included chip packaging and advanced production, following Intel's shelving of plans to build a cutting-edge factory in Germany.

The coalition is examining "what the internal demand would be from European countries ... so that companies know it's worth it to start investing" he said.

Beljaarts said the new group, formally established on March 12, was aimed at helping rather than undermining the Commission.

The Commission said it "strongly supported" the initiative.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
CDK cyber outage hits US auto dealers second day in a row
CDK cyber outage hits US auto dealers second day in a row
Jun 20, 2024
June 20 (Reuters) - A cyber outage at retail technology and software provider CDK entered its second consecutive day on Thursday, impacting automobile dealers across the United States, the affected companies said. The CDK outage is impacting automotive dealerships across the U.S. and Canada, including a portion of BMW Group dealers, a spokesperson for BMW North America told Reuters. CDK...
Navigating 9 Analyst Ratings For Taiwan Semiconductor
Navigating 9 Analyst Ratings For Taiwan Semiconductor
Jun 20, 2024
In the last three months, 9 analysts have published ratings on Taiwan Semiconductor , offering a diverse range of perspectives from bullish to bearish. In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total...
Corn price breaks the support – Forecast today - 21-06-2024
Corn price breaks the support – Forecast today - 21-06-2024
Jun 20, 2024
Corn Price Analysis Expected Scenario The Corn price broke the 449.20$ level clearly and ended yesterday below it, activating the negative scenario on the intraday basis and heading towards achieving negative targets starting at 433.50$. Therefore, the bearish bias will be suggested for today, supported by the negative pressure formed by the EMA50. Note that breaching 449.20$ will stop the...
Biden bans US sales of Kaspersky software over Russia ties
Biden bans US sales of Kaspersky software over Russia ties
Jun 20, 2024
WASHINGTON, June 20 (Reuters) - The Biden administration on Thursday announced plans to bar the sale of antivirus software made by Russia's Kaspersky Lab in the United States, citing the firm's large U.S. customers, including critical infrastructure providers and state and local governments. Moscow's influence over the company was found to pose a significant risk, Commerce Secretary Gina Raimondo said...
Copyright 2023-2025 - www.financetom.com All Rights Reserved