Minister Puisto to attend Competitiveness Council debate on EU Chips Act and merger control

The ministers from the Member States will debate the European Commission’s new proposal for the Chips Act, which aims to strengthen Europe’s semiconductor industry and reduce the Union’s strategic dependencies. The Commission’s objective is to boost demand for chips and promote the design and production of chips in the EU. In principle, the Finnish Government supports the proposal’s objective of improving the competitiveness and resilience of the European semiconductor ecosystem and ensuring security of supply. “European companies must take on a more prominent role in the semiconductor industry and increase their competitive edge in the sector. What we need are faster innovation capabilities and product development leading to industrial deployment on a large scale. The EU can help drive these efforts by funding investments in the best strategic projects. Finland is home to a number of leading companies that have a lot to offer for semiconductor supply chains,” says Minister of Economic Affairs Sakari Puisto. The Finnish Government stresses that the EU’s policy measures on semiconductors should be based on a well-functioning internal market, a market-determined approach and techn...