Associated Press
The Spanish government on Tuesday announced a 12.3 billion euro ($13.2 billion) investment plan to convert the country into a major producer of microchips and help reduce the dependence of Spain and the European Union on other suppliers. The announcement in Madrid came as Prime Minister Pedro Sánchez was to meet with leaders of technological firms at the World Economic Forum meeting in Davos, Switzerland, to explain the plan and seek further investment. Speaking in Madrid, Deputy Prime Minister and Economy Minister Nadia Calviño said the five-year plan is aimed at enabling Spain to cover every area in the design and production of microchips, which are now considered key to all areas of modern industry.