Latvia has excellent prospects for integrating into global microchip production chains, and the Ministry of Economy is ready to provide all possible support for the implementation of this process. This was stated on Wednesday, August 28, by the Minister of Economy Viktors Valainis (Union of Greens and Farmers) at a meeting with the President of the Microelectronics Association "SEMI Europe" Laits Altimime. From August 27 to 29, a delegation of the international microelectronics association "SEMI Europe" headed by its president is visiting Latvia. The purpose of the visit is to get acquainted with the achievements of Latvian scientists and companies in the development of microchip technologies and to discuss closer cooperation aimed at increasing the competitiveness of Latvia and the whole of Europe in global value chains in the field of semiconductors. Altimime noted that Latvia has significant comparative advantages for becoming part of the microchip production chains, especially in the field of higher education, research and technical competence. He emphasized that this industry has great prospects: "This is a gateway to production chains worth 2.8 trillion euros." At the same time, according to the president of "SEMI Europe", an 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 significant data centre and server capacities, where Latvia also has significant advantages. Altimime expressed his readiness to join the memorandum of understanding signed at the end of 2022 by the Ministry of Economics, the Latvian Employers' Confederation, the University of Latvia, SIA "Latvijas Mobilais Telefons" (LMT), SIA "Mikrotīkls" ("MikroTik"), SIA "Tet", VAS "Elektroniskie sakari" and the Liepaja Special Economic Zone Authority for the development of the industry. He also noted that the biggest challenge for both Latvia and Europe as a whole will be to provide qualified specialists who will be increasingly in demand in the rapidly developing industry.
