Semiconductors: MEPs adopt legislation to boost EU chips industry

Plans to secure the EU’s supply of chips by boosting production and innovation, and establishing emergency measures against shortages, were adopted by Parliament on Tuesday.

The new law, already agreed upon between Parliament and Council, aims to create a favourable environment for chip investments in Europe, by fast tracking permitting procedures and recognising their critical importance via a so-called "highest national significance statute". Small and medium-sized businesses will also benefit from increased support, especially in the area of chip design, in order to boost innovation.