Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent in Gaza: Four fetuses and three premature babies died at Nasser Medical Complex due to malnutrition
Lebanese Ministry of Health: One person was killed in an Israeli airstrike on a car in the town of Burj Qalawieh, south Lebanon.
Al Mayadeen correspondent: The first ship of the Maghreb fleet delivering aid to break the siege on Gaza departs from the port of Gammarth in Tunisia.
Channel 12: Airspace closed at Ramon Airport due to fears of drone infiltration
IOF Spokesperson: Sirens sounded over an aircraft infiltration in the Bir Ora area, and details are being examined
Drone infiltration sirens sound north of the Gulf of Aqaba
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out five extremely violent raids on the western areas of Gaza City
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out major bombings in the Gaza Strip, the most violent since October 7
Yemeni Armed Forces spokesperson Brigadier General Yahya Saree: The missile force carried out a major operation using the Palestine 2 ballistic hypersonic missile, hitting several targets in occupied Yafa.
Sirens sound in large areas of occupied Palestine after a missile launch from Yemen was detected

EU adopts plan to join chips race, allocates shy funds

  • By Al Mayadeen English
  • Source: Agencies
  • 18 Apr 2023 23:11
3 Min Read

Europe's plan aims to double global market share of chip imports to 20% by 2030.

  • x
  • EU adopts plan join chips race with shy funds
    An illustration of a semiconductor embedded on a board (Adobe Stock)

The European Union reached an agreement to develop the domestic chipmaking industry as the bloc struggles to keep pace with the tech race between the US and China, AFP reported on Tuesday.

Following the disruption of global supply chains during the Covid pandemic, which led to dramatic shortages of various products, especially semiconductors, the EU moved toward boosting local manufacturing of the critical tech component.

Read more: US pressure mounts on Amsterdam: New anti-China chip restrictions

Currently, China and Taiwan have the dominant share in the global market of chip exports, but the new plan adopted by the EU aims to double Europe's market share to 20 percent by 2030 and allocate 43 billion euros ($47.2 billion) in public and private investments to fulfill the continent's growing demand of semiconductors.

The deal "will allow for a competitive chips industry and build the foundation for a global market share. It will power a clean tech industry made in Europe and strengthen our digital resilience and sovereignty," EU President Ursula von der Leyen said on Tuesday.

Europe will need to increase its production four folds to meet this target.

The bloc will also invest 3.3 billion euros in research and development, in addition to building special facilities for the project and a monitoring system to deliver an early warning in case of supply shortages to prompt the EU in reacting quickly and efficiently.

Related News

China slams US military near Venezuela, warns against interference

South Korea probes US raid over potential human rights violations

"This will allow us to rebalance and secure our supply chains, reducing our collective dependence on Asia," Thierry Breton, the EU's industry commissioner, stated after the EU parliament reached an agreement.

Read more: Largest Chinese chipmaker to up capacity following record revenue

The chip race

The United States, Japan, and South Korea have already initiated plans to increase chips productions and develop their tech sector. Washington passed the Chips and Science Act last August which will allocate $52 billion to boost the sector, while its Asian allies also released multi-billion dollar projects to keep track.

STMicroelectronics, US-based GlobalFoundries, and US tech giant Intel announced plans last year to invest billions of dollars into new production facilities in France and Germany, where they will be able now to receive subsidies for their plans under the new European agreement.

Washington has leaned on allies including Japan and the Netherlands this year to curb exports of semiconductor technology to China, much to Beijing's chagrin.

"Europe aims to become an industrial powerhouse in the markets of the future -– the digital and clean technologies that will allow us to remain a competitive export force, generate quality jobs and ensure our security of supply," Breton noted. 

"Because there will be no green or digital transition without a strong manufacturing base."

Read more: UK launches deep probe into US chip company buying VMware

  • United States
  • Japan
  • Taiwan
  • Chips industry
  • Europe
  • US
  • EU
  • semiconductors
  • China
  • CHIPS act
  • South Korea
  • European Union

Most Read

The damaged building in the Katara neighborhood, Doha, Qatar, September 9, 2025 (Social media)

Hamas delegation survives Israeli assassination attempt in Qatar

  • Politics
  • 9 Sep 2025
Pro-"Israel" conservative Charlie Kirk shot during Utah speech

American far-right activist Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Australia warned of deadly climate risks in landmark report
Environment

Millions at risk from rising seas, extreme heat in Australia: Report

DPRK leader Kim Jong Un inspects a new weapons factory in undisclosed location, Democratic People's Republic of Korea, August 31, 2025 (AP)
Politics

DPRK defies US, says nuclear state status 'permanently enshrined'

Soldier F faces trial over bloody Sunday killings after 53 years
Miscellaneous

British Soldier F faces trial over Bloody Sunday killings after 53 yrs

Pro-Palestinian protesters demonstrate at the University of Sydney to protest the Israel Hamas war, Wednesday, April 24, 2024 (AP)
Politics

Protest outside ABC decries media silence on Gaza journalist killings

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS