Italy Earmarks $4.4 Billion to Boost Semiconductor Industry
- Fund targets strategic independence with investments to 2030
- EU set 2030 target to produce 20% of world’s semiconductors
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Italy will invest over 4 billion euros ($4.4 billion) to develop the domestic semiconductor industry, as it seeks to support companies transitioning to greener technologies.
Prime Minister Mario Draghi’s government approved a new fund which will allocate 150 million euros in 2022 and 500 million euros each of the following years until 2030 as part of a new decree law which goes into effect Wednesday.