Translated using ChatGPT service.
Latvia has excellent prospects to be integrated into global microchip manufacturing chains, and the Ministry of Economics is ready to provide all available support to make this happen. To achieve the goal of Latvia's economic growth strategy to double the economy within ten years, it is necessary for Latvia to become an innovation hub in the region,” said Minister of Economics Viktors Valainis today during a meeting with Laith Altimime, President of the microelectronics association "SEMI Europe."
From August 27 to 29, a delegation from the international microelectronics association "SEMI Europe," led by President Laith Altimime, is visiting Latvia to familiarize themselves with the achievements of Latvian scientists and companies in microchip technology development and to discuss closer cooperation to enhance the competitiveness of Latvia and all of Europe in global semiconductor value chains.
During the meeting with the Minister of Economics, L. Altimime acknowledged that Latvia has significant comparative advantages to become a part of the microchip manufacturing chains, particularly in the areas of higher education, research, and technical competencies. He emphasized that the industry has enormous prospects – it is a gateway to production chains valued at €2.8 trillion. A significant increase in demand is expected in the coming years due to the development of generative artificial intelligence, which will require not only microchips but also very large data center and server capacities, where Latvia also has significant advantages.
"We will be your partners in implementing the semiconductor industry strategy," stressed L. Altimime, who was invited to join the memorandum of understanding for industry development signed at the end of 2022 by the Ministry of Economics, the Latvian Employers’ Confederation, the University of Latvia, LMT, "Mikrotīkls," "Tet," VAS "Elektroniskie sakari," and the Liepāja Special Economic Zone Administration. L. Altimime acknowledged that the biggest challenge for both Latvia and Europe as a whole will be ensuring a sufficient number of qualified specialists, which the rapidly growing industry will increasingly require.
The European Union (EU) Chip Act stipulates that each member state has the opportunity to apply for the establishment of a semiconductor competence center, thereby promoting the EU's sovereignty and self-sufficiency in the semiconductor market. The design and testing stage of the microchip value chain currently accounts for the largest part of turnover, and Latvia has unique advantages in this area compared to its closest neighbors – competent specialists and prepared technologies.