European Semiconductor Sector Urges Enhanced Chips Act 2.0

European semiconductor industry associations, including the ESIA and SEMI Europe, are calling for a follow-up initiative to the 2023 EU Chips Act, referred to as 'Chips Act 2.0'. During a recent roundtable in Brussels with European lawmakers, the groups emphasized the need for a comprehensive strategy that encompasses not only manufacturing but also chip design, materials, and equipment to strengthen the region's competitiveness and resilience. They submitted a joint declaration to Henna Virkkunen, the European Commission’s Executive Vice President, outlining their priorities for enhanced research and development funding and quicker administrative processes. The push for a revised strategy comes amid rising global demand for semiconductors and the challenges posed by fluctuating international trade policies. Additionally, the semiconductor market in Europe is projected to grow significantly, highlighting the urgency for increased support mechanisms. This collaborative effort aims to ensure that Europe maintains its technological edge in the semiconductor landscape.