Britain launches USD 1.2 bln semiconductors strategy

Britain declared Friday launching a national semiconductor plan worth ?£1 billion (USD 1.2 billion) in the next decade to be among the pioneering countries in this regard.

The strategy focuses on three main goals; developing the domestic sector, mitigating risks of supply chain disruptions and protecting national security, the British government said in a press statement.

About ?£ 200 million (about USD 248 million) will be invested by 2025 to improve infrastructure and fund further researches and development operations, in addition to facilitate international cooperation in this field, it added.

Semiconductors have vital importance today as they are a main component for modern electronic devices like smart phones, computers, power plants and others, it noted. In addition, semiconductors have a key role in backing future technologies like artificial intelligence, government computing, and G6 communications, it stated.

The statement indicated that the investment volume of this field is expected to reach USD one trillion by 2030 across the globe.

Source: Kuwait News Agency