Spain plots €11B chip sector investment - Mobile World Live

Spain plots €11B chip sector investment

05 APR 2022

Spain’s government outlined plans to plough €11 billion into boosting the country’s chip industry, in line with a wider European push around semiconductor development.

Prime Minister Pedro Sanchez unveiled the initiative at a press conference, with the focus of the move to be on microchips and semiconductors.

The politician stated he wants Spain “to be at the vanguard of industrial and technological progress” and the project would be approved by his cabinet “soon”.

Spain’s investment will mainly be financed through European Union (EU) public relief funds, which have been made available to partly help the bloc recover from the effects of the Covid-19 (coronavirus) pandemic.

The nation’s plans follows a big recent push around development of the chip industry in Europe.

In February, the European Commission unveiled a multi-billion euro Chips Act in to bolster the continent’s competitiveness in the sector, while Intel recently fleshed-out plans to spend more than €33 billion on boosting manufacturing, the first phase of wider €80 billion push.

The EU has also detailed a goal to become a key global semiconductor maker, with a goal to produce a fifth of the world’s supply by 2030.

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Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

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