A Dutch government minister expressed confidence that ASML, a crucial chip-equipment maker in the country, will not relocate despite previous threats. ASML CEO Peter Wennink had mentioned potential relocation due to labor migration limitations and other restrictions in the Netherlands. The minister assured that discussions have been held to ensure ASML’s growth within the country, emphasizing the company’s significance in the semiconductor supply chain.
To address ASML’s concerns, the Dutch government initiated “Operation Beethoven” to convince the company to stay. Although ASML ruled out a complete departure, tensions remain regarding the government’s approach to fostering growth. ASML’s workforce comprises a significant number of non-Dutch employees, highlighting the company’s importance to the Dutch economy.
Moreover, ASML has encountered geopolitical tensions, including export restrictions to China. Despite challenges, the minister emphasized support for ASML’s growth and compliance with regulations. He also highlighted the importance of global collaboration and ensuring all countries abide by the same rules for economic stability and security.
A top Dutch government minister, Steven van Weyenberg, expressed confidence that the country’s chip-equipment maker ASML will remain in the Netherlands despite threats from the company to move its operations abroad. ASML is a critical player in the semiconductor supply chain, producing extreme ultraviolet lithography (EUV) machines essential for manufacturing integrated circuits. Following controversial plans by the Dutch government to limit tax breaks for highly skilled migrants and foreign students, ASML CEO Peter Wennink had previously suggested the company may need to move elsewhere to grow. However, the Dutch government launched “Operation Beethoven” to address ASML’s concerns and convince them to stay in the Netherlands. The country is also working on appointing a new government amid ongoing tensions with China and the U.S. regarding chip export controls. Van Weyenberg emphasized the importance of supporting ASML as a key player in the Dutch economy and ensuring compliance with global rules. He also highlighted the risks posed by global economic fragmentation and the need to address security concerns related to China’s activities in the tech industry.
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