European Parliament approves €3 billion European chip bill aimed at doubling semiconductor production

EU chips2

Banca March: The European Union’s legislative chamber has finally approved the European Chip Law, with which the EU aims to double semiconductor production to 20% of its global production and thus reduce the trend of Taiwan and South Korea with respect to this technological component. The law is organised in three pillars and aims, in addition to increasing Europe’s chip manufacturing capacity, to consolidate its leadership in semiconductor research and the movement of such advances to the market, as well as to monitor supply chains to avoid events such as those experienced during and after the pandemic. The law will have a budget of €3 billion, which will come from the EU’s overall budget, although the aim is to increase this figure to around €40 billion through public and private investment.

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