On Monday, the Italian Council of Ministers approved 700 million euros in funding for the microelectronics industry to support research and development in the semiconductor industry. This measure will be part of the national microelectronics plan to be released in the coming weeks. In addition, the Council of Ministers also approved the establishment of a Microelectronics Technology Committee in the Ministry of Enterprises and "Made in Italy", consisting of representatives from the Ministry, the Ministry of Economy and Finance, universities, and research departments; Approved an additional allocation of 30 million euros from universities and research departments to support semiconductor research projects.
At the same time, in order to promote public and private investment, the Council of Ministers has also decided to extend the period for large enterprises to receive incentive measures to 10 years to prevent their relocation. In addition, Italy may introduce a government special commissioner system, which will carry out necessary administrative coordination for foreign investments of over 1 billion euros that have been recognized as of national strategic importance by enterprises and the "Made in Italy" department to ensure timely and effective implementation.
