The Strategic Project for Economic Recovery and Transformation (PERTE) includes billionaire investments in electric cars and renewable energies, among other sectors. The one with the microchips will also have his.
Pedro Sánchez announced today during his speech at the ‘II Wake Up Spain Forum: Learning, growth and sustainability in a Europe of solidarity’, that the microchip industry will also have its own PERTE.
Said Strategic Project for Economic Recovery and Transformation on microchips and semiconductors will entail a public investment of 11,000 million euros and will join the existing ones aimed at sectors as diverse as electric vehicles, cutting-edge health, renewable energies, agri-food, new language economy, circular economy , shipbuilding, aerospace and water cycle.
“Spain is not going to lose the race to the most advanced technology”
In addition, the President of the Government has confirmed that Spain has already received 19,037 million euros from European Commission funds framed in the recovery strategy in the Old Continent.
“Receiving the funds is the first of the challenges, but the important challenge is to execute them quickly, efficiently so that they have an impact on people’s daily lives”, the president pointed out.
Microchips, a key piece in the advancement of the country
“Semiconductors are a basic element in all sectors,” said Sánchez, who anticipated that “Spain is not going to lose the race to the most advanced technology”.
Microchips and semiconductors have been one of the catalysts of the current technological and economic crisis, since their scarcity has led to a notable rise in prices and production shortage in sectors as dependent as transport or home technologies.
The Government wants the country to be “at the forefront of industrial and technological progress”, declared Pedro Sánchez, and in that objective “this PERTE is a great bet”which he described as “ambitious and daring”.
In the president’s words, these projects will boost economic recovery and job creation, although he has reiterated that the Russian invasion of Ukraine has increased uncertainty and “affected economic stability.”
Finally, Pedro Sánchez has insisted on “Spain’s ability to face the toughest moments and grow in the face of adversity”affirming that his Government “is made for all seasons, the hard ones and the kind ones, which will come”, seeing him capable of “going up hills and down them, when they arrive, they will surely arrive”.
Unfortunately, these 11,000 million announced by Pedro Sánchez seem quite small to contribute to position Europe at the forefront of the market of microchips, since both the United States and Asia have long planned much higher investments.
Without going further, TSMC plans to invest a whopping 100,000 million dollars until 2024, while Samsung it has already announced the forthcoming creation of a $17 billion factory in Texas as part of a dizzying $205 billion investment that includes chips, biopharmaceuticals and telecommunications.
SMIC, which is the largest Chinese manufacturer, has already announced that it will invest 8.9 billion in a new plant in Shanghai. In addition, the Biden Administration has a $50 billion plan to boost chip production in the United States. In fact, Intel It has already planned an investment of 20,000 million for its future factory in Ohio, which aspires to be the largest in the world.