Italy’s Draghi says Europe must increase its chip production

FILE PHOTO: European Union- African Union summit in Brussels
FILE PHOTO: Italian Prime Minister Mario Draghi speaks with the media as he arrives for the EU-Africa summit at the European Council building in Brussels, Belgium February 17, 2022. Geert Vanden Wijngaert/Pool via REUTERS/

March 23, 2022

ROME (Reuters) – Italy’s Prime Minister Mario Draghi said it was a priority for European countries to increase production of computer chips as part of a wider effort aimed at strengthening the bloc’s economy and protecting key industries.

“The shortage of semiconductors – essential for many strategic industries such as transport, industrial machinery, defence – has been particularly damaging,” Draghi said, speaking to parliament.

He added that it was Europe’s ambition to increase its market share from 10% to 20% of global chip production by 2030.

(Reporting by Angelo Amante; Writing by Giulia Segreti; Editing by Keith Weir)