Japan unveils $65 billion plan to aid domestic chip industry
Shigeru Ishiba on Monday unveiled a $65 billion plan to boost the country's chip and artificial intelligence industries via subsidies and other financial incentives.
The plan, which will provide support worth 10 trillion yen ($65 billion) or more by fiscal 2030, comes as countries look to strengthen control over their chip supply chains after global shocks including trade tensions between the United States and China.
Japan's government intends to submit the plan, including bills to support the mass production of next-generation chips, to the next parliament session, according to a draft of the plan seen by Reuters earlier on Monday.
It specifically targets chip foundry venture Rapidus and other suppliers of chips for artificial intelligence, the draft showed.
The government expects the economic impact to total around 160 trillion yen, according to the draft.
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