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The European Council's ministers signed off on the EU's Chips Act, which will channel 43 billion euros ($47 billion) in public and private funds and allow state aid for the continent's semiconductor industry.
The European Council has approved the EU Chips Act to boost the continent’s semiconductor production and reduce its reliance on adversarial competitors like China.
The European Union (EU) has been seeking deeper synergy with Taiwan's semiconductor ecosystem as it pursues greater autonomy in the sector. As a part of this effort, the EU-Taiwan Semiconductor Seminar was held in Taipei on May 30, gathering representatives from leading European semiconductor clusters.
Collaboration between Taiwan and the EU helps ensure and strengthen the resilience of supply chains, said vice minister of Taiwan's Ministry of Economic Affairs (MOEA) Chuan-Neng Lin.
The EU Chips Act aims to double the bloc’s share of global semiconductor output to 20 per cent by 2030.