EU countries unanimously support Dutch proposal to push billions into tech sector

All EU countries have backed a Dutch-led call to invest tens of billions of euros in Europe’s semiconductor industry to reduce dependence on the U.S. and China, Caretaker Minister of Economic Affairs Vincent Karremans said.

According to De Telegraaf, Karremans said the plan should include at least a repeat of the 43-billion-euro investment project launched in 2023 under the EU Chips Act, which is set to expire in a few years. “You want to create much more independence. That requires money, and then you also need to create a market,” he said.

The ministers emphasized that investments should go beyond companies themselves. “We must ensure that conditions allow them to flourish,” Karremans said, citing issues such as nitrogen emissions and electricity grid congestion.

For the Netherlands, the chip industry is strategically critical. ASML, based in Noord-Brabant, is a world leader in chip machinery.

The plan also calls for better cooperation between large and small European chip companies, as well as more investments in technical education to train talent for the sector. “Technology develops very fast, but curricula lag behind. In America, they adapt much more quickly,” Karremans added.

The coalition of nine countries behind the initiative was originally formed by former Minister Dirk Beljaarts (PVV), with Karremans now leading the effort. “Dirk started this, all credits to him. I only had to follow up,” Karremans said.

Karremans also cited rising U.S.-China trade tensions and unilateral tariffs imposed by U.S. President Donald Trump, including on the EU, as a reason for Europe to reduce dependence on foreign markets. “It has everything to do with Europe wanting to be much less dependent on other economies,” he said. “Where we are very vulnerable is that we make machines but not chips.”