Muqeem Ahmed, UK,
The shortage of computer chips globally has severely damaged the production of automotive electronics and other industries. The 27-nation European Union has drafted a plan called the Chips Act to protect its member countries’ industries to become self-sufficient in the production of block semiconductors.
While addressing the EU Parliament, President Ursula von der Leyen called it a matter of life and death. The EU has taken this step after Washington approved a project called Chips for America.
According to the head of European Industry Commission that EU’s initiatives will include research, productivity and global cooperation. EIC also advised the bloc countries to set up a chips fund, but procuring precious metals for chips manufacturing from other parts of the world is a big challenge.