00:00All 27 EU countries have joined a Dutch-led coalition to revamp Europe's plans for the
00:06semiconductor industry.
00:08The coalition wants the updated European Chips Act to focus more on critical technologies,
00:13faster approvals and better skills and funding.
00:16The current act aims to reduce reliance on foreign suppliers and increase Europe's share
00:20of global chip production.
00:22But earlier this year, the EU's finance watchdog said a goal of reaching 20% of the global
00:27chip market by 2030 was unrealistic.
00:30The coalition's new proposal for a Chips Act 2.0 was handed over to the European Commission
00:35on Monday.
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