A collective statement from the 27 EU member states expresses an urgent need for updating the EU Chips Act. The EU feels it has fallen behind in semiconductor production, urging the European Commission to take action. According to the declaration, “To secure and strengthen our global position,” the EU must prioritize the semiconductor sector as a vital industry comparable to aerospace and defense, advocating investment, research, and innovation. The message emphasizes the pressing need for a more robust initiative to address semiconductor challenges, as much of the value creation is now happening outside of the EU.
In reference to the undertakings of the EU’s semiconductor strategies, the report outlines three main objectives for the redesigned Chips Act:
- Prosperity: Cultivate a competitive European semiconductor ecosystem to enhance economic welfare across various sectors.
- Indispensability: Maintain and innovate leadership within the semiconductor industry to secure crucial control points globally.
- Resilience: Ensure stable and reliable supplies of trustworthy semiconductors, especially during global disruptions.
The revisions suggest the necessity for collaboration across industries, public and private investments, and a focus on skilled workforce training. Despite these developments, there remains significant skepticism about whether the EU can realistically achieve the set production targets for the future.
