Technology, Consumer Staples May 24, 2022 10:14 PM (GMT+8) · EqualOcean
The Spanish government has approved a plan to invest 12.25 billion euros ($13.12 billion) in the semiconductor and microchip industry by 2027, of which 9.3 billion euros will be used to fund the construction of factories, Spanish economy minister Nadia Calvino said on Tuesday. The Spanish government's plan is mainly from the pandemic relief funds provided by the European Union, mainly for the demand caused by the digital economy and chip shortage. When Spanish Prime Minister Sanchez announced the plan last month, the initial scale was set at 11 billion euros. The Spanish government will support its companies to participate in strategic projects at the European level, and will create a chip fund of 200 million euros to fund the entrepreneurship and expansion of the Spanish semiconductor industry.

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