Europe Bolsters Semiconductor Industry with Chips Act
Boosting Competitiveness and Resilience
Amidst global chip shortages and an escalation of subsidy races, the European Union has unveiled the Chips Act, a comprehensive plan to enhance Europe's competitiveness and resilience in semiconductor technologies. This three-pillar initiative aims to strengthen the EU's semiconductor ecosystem and secure a strategic advantage in this critical industry.
Pillar I: Technological Capacity Building
The Chips for Europe Initiative, established under Pillar I, supports large-scale technological capacity building. This includes investments in research, development, and infrastructure to boost Europe's semiconductor manufacturing capabilities.
Pillar II: Strengthening the Ecosystem
Pillar II focuses on strengthening the semiconductor ecosystem by supporting the creation of a European semiconductor alliance, investing in start-ups and small businesses, and promoting talent development.
Pillar III: Global Cooperation
Pillar III encourages international cooperation to address global semiconductor challenges. The EU aims to engage with key partners and establish strategic partnerships with regions such as the United States and Asia.
The Chips Act entered into force on September 21, 2023, signaling the EU's commitment to reinforcing its semiconductor industry. Its ultimate goal is to ensure Europe's long-term competitiveness and resilience in this critical technology sector.
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