JAKARTA - Italian Prime Minister, Mario Draghi, stated that it is a priority for countries in Europe to increase their current production of computer chips. The policy is part of a wider effort aimed at strengthening the bloc's economy and protecting key industries.
"The shortage of semiconductors, an important material for many strategic industries such as transportation, industrial machinery, defense, has been very damaging," Draghi said, speaking to parliament.
This is in response to the shortage of chips that has hit many countries during the pandemic in the last two years. This caused many manufacturing industries in Europe to experience massive disruption.
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He also called for more policies to support the construction of factories or chipmakers in European countries.
He added that it was Europe's ambition to increase its market share from 10% to 20% of global chip production by 2030.
Draghi also admitted that chip production in Europe has so far been far behind its competitors in Asia, such as Japan, South Korea, Taiwan, and China. Likewise when compared to the United States.
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