Spanish Economy Minister Calvino said on Tuesday (24th) that the Spanish government has approved an investment plan that will spend 12.25 billion euros (approximately RMB 84.505 billion) to develop the semiconductor and microchip industries by 2027, of which 9.3 billion euros (approximately RMB 84.505 billion) will be developed. 66.367 billion yuan) to finance the construction of factories.

The Spanish government pointed out that 1.1 billion euros will be used to subsidize research and development, and 1.3 billion euros will be used for chip design. In addition, it will support the strategic projects developed by Spanish companies at the European level, and establish a $200 million chip fund to finance the development of the Spanish semiconductor industry. Start a business and scale up.

Funding for the program, which is largely funded by the European Union's pandemic relief funds, is aimed at the needs of the digital economy and chip shortages. The plan was initially set at 11 billion euros when Spanish Prime Minister Sanchez announced the plan last month.

Calvino said the investment plan is aimed at developing the design and productivity of the Spanish electronics and semiconductor industry in an all-round way, including the entire supply chain from design to chip manufacturing.

Calvino also added that the lack of support, commitment, vision and even a coherent strategy is part of the reason why Spain does not have a chip industry so far, and he hopes to take this opportunity to give Spain its due role in this field.