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According to Kyriakos Pierrakakis, the semiconductor industry is an opportunity for Greece


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Kyriakos Pierrakakis commented on the international developments surrounding the semiconductor industry and emphasized that “Greece has very important resources and very important potential in this area”.

Kyriakos Pierrakakis mentioned the digital progress of Greece in the last three years and the country’s prospects to be part of the new supply chain that is being formed in the field of semiconductors (chips), on the occasion of the European Commission’s proposed Chips Act regulation.

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Speaking at the Emerging Tech Forum organized by HETIA (Hellenic Emerging Technologies Industry Association), the Minister of State and Digital Governance focused on international developments around chips and emphasized that “Greece has very important resources and very important capabilities in this area” .

First, in the part of the country’s digital progress, Kyriakos Pierrakakis noted that “we have tripled the services we provide digitally through from 500 to 1,500. In addition, we have increased digital transactions a hundredfold: from 8.8 million in 2018 to one billion this year.”

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In addition, he listed the main legislative initiatives undertaken by the Ministry of Digital Governance in the last three years and how the country is gradually moving from the resolution of outstanding issues to a dialogue with the things that concern today and tomorrow.

“Step by step, we are trying to move into a new era, to do things that reflect the enormous potential of our fellow citizens, our country, Greek university institutions and the entire Greek private sector,” he added.

With reference to the international developments in the field of chips, Kyriakos Pierrakakis pointed out that “at this moment there is a huge geopolitical reorganization in the field of Technology.

There are value chains in the context of globalization that had a strict logic of cost minimization in the past.

Now – and especially after the events in Ukraine but also with the wider geopolitical realignments – county risk issues, as well as risk assessment and quantification issues enter the equation of what a supply chain is and how it should work.

So lately we’ve been seeing a “re-industrialization” of the West actually happening and parts of the supply chains being passed back to the countries from which they had left.”

The Minister of State and Digital Governance also stated that “pieces of this chain are transferred from the East back to the West.

We see the United States and the European Union taking specific funding and legislative approaches to how they could act as catalysts in this effort.

And from the facts given the Chips Act, which is coming, we as a country have to make concrete decisions about how we will join this value chain”. Analyzing how this will be carried out, he explained that the country must meet a number of demands.

“One is to do capacity building, that is, to find out how this footprint can be multiplied in the coming years. This will be done by leveraging the available national and European resources, taking advantage of the very important European initiatives that will come in the coming years through the chips act and through the available financial tools.

Another part of the equation is how we can make “smart” interventions in the specific field at the level of legislation or in general in the context of an industrial policy that will contribute to creating more value.

And certainly to try, as we have done in other cases, in this great geopolitical reclassification to claim our own part, given that in the country there is a very important progress in general in the field of technology and digital transformation”.

In closing, Kyriakos Pierrakakis stated that “the best proof that this scheme is realistic is you, the people of this space, is the ambition we see from the Hellenic Emerging Technologies Industry Association and its members. And I assure you that it is an ambition that we are fully prepared to support.”

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