The European Parliament and the member states of the bloc have reached an agreement on a text aimed at developing the semiconductor industry, with the aim of reducing dependence on the continent of Asia in this strategic sector. The European Union suffers from a shortage of chips, and in recent decades, its market share has declined. This shortage of semiconductors has curbed the automotive industry and caused a crisis.
By mastering more advanced semiconductor technologies, the EU will become an industrial powerhouse in the markets of the future, with the stated goal of doubling the EU's share of the global semiconductor market to 20 percent, by injecting 43 billion euros ($47.1 billion) of public and private investment into the sector.
Source (Al Arabiya.net Website, Edited)
