By Caribbean News Global contributor
WASHINGTON, USA – The state department will partner with the government of Costa Rica to explore opportunities to diversify and grow the global semiconductor ecosystem and create a more resilient, secure, and sustainable global semiconductor value chain, according to a media note from the office of the spokesperson.
“This partnership is enabled by the International Technology Security and Innovation Fund (“ITSI” Fund), created by the CHIPS Act of 2022.”
In August 2022, president Joe Biden signed the CHIPS Act of 2022, a new US law that appropriated billions of dollars in new funding to boost domestic manufacturing and research of semiconductors in the United States.
The CHIPS Act created the ITSI Fund which provides the US Department of State with $500 million ($100 million per year over five years, starting in Fiscal Year 2023) to expand global semiconductor manufacturing; secure semiconductor supply chains; and develop and deploy secure and trustworthy Information and Communications Technology (ICT) networks and services through new programs and initiatives with our allies and partners.
The office of the spokesperson continued:
“The United States views Costa Rica as a partner in ensuring the semiconductor supply chain can keep pace with the digital transformation underway. Products ranging from vehicles to medical devices increasingly rely on semiconductors as the building blocks of today’s economy. This collaboration underscores the significant potential to expand this industry in Costa Rica to the benefit of the United States and Costa Rica.
“This partnership will begin with a review of Costa Rica’s current semiconductor industry development, regulatory framework, and workforce and infrastructure needs. The outcome of this review will inform future collaboration on developing this critical sector.”
About the ITSI Fund.
Credit: Source link