BRUSSELS (Reuters) – The European Union (EU) has validated a 43 billion euro plan to boost its semiconductor industry and try to catch up with the United States and Asia, Thierry said on Tuesday. Breton, European Commissioner for the Internal Market, in charge of digital, industry and services.

The European Commission, EU countries and MEPs have been negotiating the final details of EU chip regulations, dubbed the “EU Chips Act”, in Strasbourg since 7 a.m. (0500 GMT) on Tuesday.

“We have reached an agreement on the EU Chips Act,” Thierry Breton told a press conference.

“In a geopolitical context of de-risking, Europe is taking its destiny into its own hands,” he added on his Twitter account. “By mastering the most advanced semiconductors, the EU will become an industrial power in the markets of the future.”

The “Chips Act” aims to double the EU’s current share of global chip production to 20% by 2030. It follows the announcement by the United States of its “CHIPS for America” ​​plan. intended to compete with Chinese technology.

While the European Commission had initially proposed to fund only advanced chip factories, governments and MEPs have widened the scope to cover the entire value chain, including chips more old buildings as well as research and design facilities.

US chipmaker Intel, which will receive German subsidies for a factory in Germany, welcomed the deal.

“EU chip legislation will attract investment where it is most needed, i.e. in manufacturing capabilities, skills and research and development (R&D),” said Hendrik Bourgeois, vice-president President of European Government Affairs at Intel.

(Foo Yun Chee report; Lina Golovnya, edited by Blandine Hénault)

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