MOSCOW, Feb 13 A number of UK semiconductor companies are considering the option to move the business to the United States or an EU country if the UK government does not present a strategy and a financial support package for the development of the industry in the country in the near future, CNBC reported on Monday.
Semiconductors are used in almost all electronic devices: smartphones, computers, electric vehicles, ventilators, space satellites.
«It should make sense for companies like ours to continue to operate and produce here, and if there are more potential economic benefits and government support packages abroad, then relocation is the only sensible business decision,» the head of the British firm told the TV channel. chip manufacturer Pragmatic Semiconductor Scott White.
In addition, Wales-based IQE warned earlier about its intention to consider moving the business to the US or the EU if the authorities do not establish a strategy in the next six months, according to CNBC.
U.S. President Joe Biden passed the Chips and Science Act in 2022 to allocate $52 billion to stimulate the production of semiconductors in the country. The European Union, in turn, allocated 43 billion euros to develop the industry in Europe and achieve the goal of producing 20% of all chips in the world by 2030, the TV channel reports.
The lack of such a strategy for UK companies is hurting their competitiveness, according to technology industry executives, the article says.
Bloomberg previously reported, citing officials, that the UK government will subsidize semiconductor companies to develop the industry and reduce dependence on other countries. Earlier, the British Parliament Committee on Business, Energy and Industrial Strategy criticized the government for the lack of a strategy for the development of the semiconductor industry.