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WorldEuropeBritain bolsters its presence in the semiconductor race with this plan

Britain bolsters its presence in the semiconductor race with this plan

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This strategy aims to stimulate the growth of the British sector, reduce the risk of supply disruption and protect national security.

It is expected that investments amounting to two hundred million pounds (230 million euros) will be allocated during the period 2023-2025, to strengthen research and development and facilitate international cooperation.

UK Prime Minister Rishi Sunak stressed the importance of semiconductors in the modern world and said the strategy would focus UK efforts on “strengths in areas such as research and design so that we can improve our competitiveness on the world stage”.

He added that this strategy would enable economic development and job creation, and should allow the UK to remain “at the forefront of new technological discoveries”.

The government statement also highlighted the commitment made on the sidelines of the G7 summit in Japan to establish an ambitious partnership with Tokyo in the field of semiconductors, in particular through a joint investment of two million pounds (2, 3 million euros) next year.

Semiconductors are essential in industry, especially green technologies such as batteries, wind turbines and solar energy, as well as digital technologies, smart phones and many other civil and military sectors.

Tensions have escalated in recent years around this strategic sector in which China and the United States are engaged in a fierce battle. Washington’s attempts to slow down Chinese technological progress in this area have prompted Beijing to develop plans to inject investments of approximately $143 billion in the local chip industry and provides tax exemptions and incentives for 5 years. Grants and loans to support semiconductor research and production, while Huawei invested $23.8 billion in research and development in 2022.

Last month, the European Union reached an agreement on a plan for the development of this industry on its territory in order to reduce its dependence vis-à-vis Asia.

Read the Latest World News Today on The Eastern Herald.

Copyright © 2023 The Eastern Herald.

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Arab Desk
Arab Desk
The Eastern Herald’s Arab Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

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