President of the European Commission, Ursula von der Leyen, paid a visit to chip machine manufacturer ASML in Veldhoven on Monday. Prime Minister Mark Rutte was also there.
According to von der Leyen, Europe plans to increase the global market share in the chip industry. At present, Europe contributes to 10 percent of the global demand. “An increase in chip production could reduce the dependency on East Asian countries,” the European Commission said in a statement.
“ASML is playing a major role in our efforts to make Europe more competitive and sovereign in the technology sector,” reported the president via Twitter.
Veldhoven-based ASML is a leading player in this sector. The market leader produces machines that make increasingly faster, smaller, and more efficient chips. ASML is often mentioned as a pivot in the economic struggle between the United States and China. In the trade war between the two superpowers, the company has essential technology in its hands. Earlier this month, the American government had placed restrictions on allowing a Syrian to work for the tech giant.
Source: Studio040
Translator: Seetha
