EU may clear state assist for chip manufacturing amid world scarcity


BRUSSELS (Reuters) – The European Union might approve potential state assist to fund new semiconductor amenities within the bloc amid a world chip scarcity that’s hampering its rebound from the COVID-19 pandemic, the EU’s competitors chief stated on Thursday.

“The Fee might contemplate approving public help to fill attainable funding gaps within the semiconductor ecosystem for the institution particularly in Europe of first-of-its-kind amenities,” Margrethe Vestager instructed the European Parliament.

The Fee, which oversees antitrust coverage within the 27 EU international locations, would search to make sure such help was topic to sturdy competitors safeguards and that the advantages had been shared broadly and with out discrimination throughout the European financial system.

(Reporting by Sabine Siebold, enhancing by Philip Blenkinsop)

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