Spain Wants to Invest 11 Billion in Production of Microchips and Semiconductors

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The Spanish government plans to invest 11 billion euros in the production of microchips and semiconductors.

 

“We want our country to join the leading industrial and technological progress group,” said Prime Minister Pedro Sanchez.

The Spanish economy, which is mainly dependent on tourism, was hit hard during the corona pandemic. In addition, the Russian invasion of Ukraine and the resulting sanctions are also affecting the Spanish economy.

Microchips are essential for the Spanish car industry, which is the second-largest in Europe.

The card is being drawn towards more domestic chip production everywhere in the European Union. In this way, the dependence on imports can be reduced. The Commission aims to produce one-fifth of the global stock by 2030.

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