An investment plan of up to $1.24 billion (£1 billion) into the domestic microchip industry was announced yesterday Great Britain in order to strengthen production capacities and avoid interruptions in supplies, after a number of appeals from the leaders of the largest companies in the industry in the country. In particular, according to CNBC, the investment is part of a 20-year semiconductor strategy that has suffered from lengthy delays hindering the UK’s plan to secure microchip supply and protect against national security threats. It is noted that the recent shortage of semiconductors has highlighted the dependence of countries, including Europe, on a limited number of suppliers outside the EU, especially Taiwan and Southeast Asia, for the production of chips and the United States for their development.

As far as is known, the UK will seek to strengthen cooperation with international partners. It is noted that already this week the UK signed an agreement with Japan to strengthen their cooperation in the field of defense and semiconductors. Under the announced plan, the British government will initially invest up to £200m by 2025 and then up to £1bn over the next decade. The funding will be used to improve the flow of talent and access to tools, patents and support services.

“Semiconductors are at the heart of the devices we use every day and will be vital to the advancement of tomorrow’s technology,” British Prime Minister Rishi Sunak said in a statement. “Our new strategy focuses our efforts on where our strengths lie, in areas such as research and design, so that we can gain a competitive edge on the global stage,” he added. “By increasing the capability and resilience of the semiconductor industry, we will strengthen our economy, create new jobs and stay at the forefront of cutting-edge technology.” As Rishi Sunak further noted, an advisory committee was also formed with representatives from industry, government and academia to work closely on common solutions and their implementation.