SEMI Europe Proposes European Chips Act 2.0

SEMI Europe has called for a 'Chips Act 2.0' to enhance the EU's semiconductor industry, citing recommendations from former ECB chief Mario Draghi. The association emphasizes the need for a centralized EU budget and a streamlined approval process for strategic tech projects, aiming to protect EU interests amid increasing competition from the U.S. and China. Key proposals include optimizing funding to achieve a 20% global market share in semiconductors by 2030, integrating semiconductors into the EU's Green Deal, and addressing the talent gap through collaboration with educational institutions. SEMI also urges the EU to adopt protective measures and export controls to improve global competitiveness while balancing innovation with sustainability. The recommendations are seen as essential for maintaining Europe's competitive edge in a rapidly evolving technological landscape.