A few days before the opening of Infineon’s new chip factory in Dresden, Saxony’s Minister of Economic Affairs, Dirk Panter (SPD), called for faster approval procedures for investments in the semiconductor industry. Europe must become more competitive in terms of its framework conditions, the minister explained on the occasion of the upcoming launch of the so-called Smart Power Fab.
Criticism of lengthy EU procedures
“The Chips Act 2.0 is both an opportunity and a reality check. If Saxony can build in just over three years, Brussels shouldn’t need a year and a half beforehand just for the review,” said Panter. Especially in the key industries of the 21st century, the EU must speed up approval procedures in order to hold its own in international competition with the U.S. and Asian countries.
