Japan is ramping up efforts to revive its once dominant chip industry [MSNBC.com]
Toyota Motor Corporation (TM)
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Source: MSNBC.com
Japan is looking to revitalize its semiconductor industry. The Japanese government has unlocked billions of dollars in subsidies for its domestic chip sector.Thicha Studio | Istock | Getty ImagesJapan has announced a new plan to revitalize the country's semiconductor and artificial intelligence industries as it works to regain its chip leadership.The proposal will provide support worth 10 trillion yen ($65 billion) or more by fiscal 2030, Prime Minister Shigeru Ishiba said earlier this week."We will formulate a new assistance framework to attract more than 50 trillion yen in public and private investment over the next 10 years," Ishiba said, adding it would be part of broader "revitalization" efforts in Japan.The plan will be part of a comprehensive economic package to be finalized in November and will be financed through subsidies, government institution investments and debt guarantees,according to local media.The move comes amid broader efforts by Japan to bolster and diversify its
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