2023-05-20 07:39:47
An investment plan of up to $1.24bn (£1bn) in the domestic microchip industry was announced yesterday by United Kingdom with the aim of strengthening production capabilities and preventing supply disruptions, following a series of appeals by executives of the country’s largest companies in the sector. In particular, as CNBC reports, the investment is part of a 20-year semiconductor strategy that has been plagued by long delays, hampering the UK’s plan to secure microchip supplies and shield itself from national security risks. It is noted that recent semiconductor shortages have highlighted the dependence of countries, including Europe, on a limited number of suppliers outside the EU, especially Taiwan and Southeast Asia, for the manufacture of microcircuits and the US for their design.
From what is known, the UK will seek to strengthen cooperation with international partners. It is noted that already this week, Britain signed an agreement with Japan to strengthen their cooperation in the field of defense and semiconductors. According to the announced plan, the British government will initially invest up to £200 million by 2025 and then up to £1 billion over the next decade. The funding will be used to improve the flow of talent and access to tools, patents and support services.
“Semiconductors underpin the devices we use every day and will be vital in driving tomorrow’s technologies,” British Prime Minister Rishi Sunak said in a statement. “Our new strategy focuses our efforts where our strengths lie, in areas such as research and design, so we can build a competitive advantage on the global stage,” he added. “By increasing the capabilities and resilience of the semiconductor industry, we will strengthen our economy, create new jobs and stay at the forefront of cutting-edge technologies.” As Rishi Sunak further noted, an advisory committee was also formed with personalities from industry, government and academia to work closely on common solutions and their implementation.
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