Spain wants to invest 11 billion in the production of microchips and semiconductors

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The Spanish government plans to invest 11 billion euros in the production of microchips and semiconductors. “We want our country to join the leading group of industrial and technological progress,” Prime Minister Pedro Sanchez said on Monday.

Spain’s economy, which largely depends on tourism, has been hit hard by the coronavirus pandemic. The Russian invasion of Ukraine and the resulting sanctions also affect the Spanish economy.

Microchips are also essential for the Spanish automotive industry, the second largest in Europe.