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Italy unveils EUR 10bn semiconductor investment plan

The Italian government is set to plough EUR 10 billion into its domestic chip industry this year in a bid to "become one of the largest microelectronics producers in Europe."

The country's Minister of Industry Adolfo Urso told Bloomberg News Agency said the plan aligns with Italy's broader economic agenda aimed at fostering technological advancement, stimulating economic growth, and enhancing competitiveness in global markets.

This new announcement shows that Italy is newly committed to the semiconductor space, having fallen behind of major European nations over the last few years. In March, there was positive news when Singapore's Silicon Box agreed to build USD 3.3 billion plant in northern Italy. It received significant backing from the Italian government to construct the  facility.

Urso has now hinted that more deals are immiment. “I believe that in the coming weeks, we will be in a position to make other equally significant announcements,” he said.


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May 14 2024 7:33 am V22.4.46-1
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