Nine European Union countries are working to accelerate plans to strengthen the bloc's computer chip industry, with proposals expected by summer, according to one of the coalition's leaders.
The coalition, including Italy, France, Germany, Spain, and the Netherlands, is conducting groundwork for the new Chips Act, which aims to enhance the semiconductor industry following the 2023 legislation currently under review. This act aims to achieve key objectives and is seen as having prevented a decline in Europe’s industry amid more substantial support programs in the United States and China.
A common criticism of the current process, which involves state funding and European Commission project approvals, is its sluggish pace. The coalition seeks to adopt a more targeted approach this time around.
"We need to allocate funds," said Dutch Economy Minister Dirk Beljaarts. "We need both private and public investments to stimulate the sector and ensure that small and medium-sized companies also benefit."
He noted that while Europe possesses leading players in research and development, such as ASML, there are gaps in chip packaging and advanced production, especially following Intel's plans to build a state-of-the-art factory in Germany.
The coalition is also assessing the internal demand across European countries to encourage companies to invest. Beljaarts emphasized that the newly established group, formed on March 12, aims to support the Commission rather than undermine it. The Commission has expressed strong support for the initiative.