Saxony Minister Urges Faster EU Approvals for Chip Industry Ahead of Factory Opening

Days before the official opening of Infineon's new chip factory in Dresden, Saxony's Economy Minister Dirk Panter has called for expedited approval procedures for investments in the semiconductor industry. Panter stressed that Europe must become more competitive in its regulatory framework to keep pace with global rivals.

"The Chips Act 2.0 is an opportunity and a reality check," Panter stated, referencing the upcoming inauguration of the Smart Power Fab. He contrasted Saxony's ability to construct the facility in just over three years with the lengthy EU approval process, which can take up to 18 months. The minister argued that the European Union needs to streamline its approval procedures, particularly for critical 21st-century industries, to effectively compete with the United States and Asian nations.

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If Saxony can build in just over three years, Brussels must not take a year and a half for the review beforehand.

The Smart Power Fab, set to officially open on Thursday, represents Infineon's largest single investment to date. With an investment of approximately five billion euros, the facility is expected to double production capacity in Dresden and create around 1,000 new jobs. Panter described the factory as a crucial component of the European Chips Act, enhancing supply chain security and bolstering Europe's technological sovereignty. He noted that the Smart Power Fab is designed to be the world's most modern and flexible semiconductor factory, capable of producing and testing highly sought-after chips for power management and integrated circuits.

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The Chips Act 2.0 is an opportunity and a reality check.