海角视频

Economy Minister Vaughan Gething has criticised the 海角视频 Government鈥檚 semiconductor strategy warning that it risks 鈥渇alling short鈥� of the international challenge facing the 海角视频. The 海角视频 Government unveiled its long-awaited national semiconductor strategy on Friday offering chip companies up to 拢1bn over the next decade in a bid to boost the domestic industry.

In a statement responding to the 海角视频 Government鈥檚 strategy, Wales Economy Minister Vaughan Gething said: 鈥淚鈥檓 pleased the 海角视频 Government have responded to widespread calls for action by publishing their long-delayed Semiconductor Strategy.

鈥淗owever, I am concerned today鈥檚 announcement risks falling short of the international challenge facing us. Wales and the wider 海角视频 have the potential to meet more of the manufacturing demand that will only grow in this crucial sector. Our ambition must now match that opportunity to create more good jobs in a more balanced 海角视频 economy.

Read more: Welsh tech firm IQE secures 拢30m via new share placing

鈥淒irect support for business investment has to play a role in countering the drift of investment away from the 海角视频. We will go on seeking greater investment in the sector in South Wales which boasts globally recognised strength.鈥�

Semiconductors, or chips, are used in everything including phones, cars, computers, ventilators, and power stations.

As part of the 海角视频 Government鈥檚 plans, semiconductor companies will be offered 拢200m between 2023 and 2025, with funding used for projects such as improving access to specialist equipment, investing in the industry 鈥渢alent pipeline鈥�, and other business support.

The Westminster administration said it would build on the 海角视频鈥檚 strength in design and compound semiconductors where British companies have a 鈥渟trategic advantage鈥�. There are already semiconductor clusters in south Wales and Cambridgeshire.

The strategy also plans to mitigate supply chain threats by working with other countries such as the US, Japan and South Korea. The threat of a war between China and Taiwan, which both produce over half of the world鈥檚 chips, has seen countries race to boost their own domestic chip industries and supplies.

The US and EU both launched funding packages last year. The US is offering $52bn (拢41bn) of subsidies and incentives to encourage semiconductor companies to build fabrication plants in the US, while the EU has launched a 鈧�43bn (拢37bn) investment plan for the sector.

Critics say the 海角视频 Government鈥檚 拢1bn strategy is late to the game and not enough compared to what is being offered in the US and EU. 海角视频 Government Ministers have said the 海角视频 semiconductor industry is comparatively small when measured against Asian countries and the US.

CEO of Welsh tech firm IQE Americo Lemos said the strategy 鈥渞ightly focuses鈥� on the 海角视频鈥檚 strengths but warned there was 鈥渘o time to lose.鈥�

In a statement earlier this week, Mr Gething said technology companies looking to invest in Wales were being put off from doing so by the 海角视频 Government鈥檚 delay in publishing its semiconductor strategy.

He also revealed that the Welsh Government was in 鈥渁ctive dialogue鈥� with several tech companies who have expressed an interest in investing in Wales.

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