The European Parliament approved a plan to develop the semiconductor industry locally and reduce dependence on Asia in this strategic sector. As the text was approved by 587 members, ten members rejected it, while 38 members abstained from voting.
The text is known as the "Chip Act" and aims to double the European Union's share of the global market to 20 percent by 2030.
Europe has seen its semiconductor manufacturing capacity decline in recent decades and has become increasingly dependent on the Asian producers that dominate the global market: Taiwan (where 90% of the world's most advanced chips are produced), South Korea, and China.
Source (Al-Arabiya.net Website, Edited)
