Nine EU countries push for rapid chip industry advancements

Nine EU countries are working to accelerate plans for the computer chip industry. They aim to present new proposals for the Chips Act 2.0 by the summer. This coalition includes countries like Italy, France, Germany, Spain, and the Netherlands. Dutch Economy Minister Dirk Beljaarts leads the group. He mentioned they are preparing to address the shortcomings of the current Chips Act, which is still under review. The original act did not meet its main goals but had prevented further decline of Europe’s chip industry compared to support programs in the U.S. and China. One criticism of the current process is that it was too slow. Beljaarts said the new act would focus on more specific and targeted funding. He emphasized the need for both public and private investments to benefit the sector and ensure that companies can invest in chip production. The coalition is also looking to identify the internal demand for chips in Europe. Beljaarts explained that understanding this demand will help companies decide on their investments in the industry. The coalition was established on March 12 and aims to assist the European Commission, which supports this new initiative.