Fidesz MEP welcomes EU Chips Act as ‘timely’, urges boosting community production

In a statement, Gyurk said that in order to maintain its competitiveness, the European Union must boost its own chip production to ensure secure supplies. “Europe is dependent way too heavily on chips manufactured outside the bloc. This has been causing regular supply shortages in several strategic industry branches,” Gyurk said, calling the new act “timely”. The new act, he said, could also be instrumental for the EU in bolstering its economic resilience and becoming a leader in technologies required for a digital transition.

Gyurk said the new act could also benefit Hungarian semiconductor companies. “Those Hungarian companies are involved in the designing and hands-on testing phases of the semiconductor value chain. The [EP’s] Tuesday decision will allow them access to new sources of community funding and offer them new prospects in domestic production,” he said.