The European Semiconductors Industry Association SEMI Europe stated on Monday that the incoming EU Commission should follow the recommendations made by Draghi to develop a more coherent and coordinated industrial policy, and propose the European "Chips Act 2.0" to maintain competitiveness. SEMI supports the report released in September by the former European Central Bank president, which includes a need for a consolidated EU budget, a "fast track" approval process for strategic technology projects, and increased spending based on the original 2023 Chips Act to strengthen the European semiconductor ecosystem. SEMI pointed out in its statement that the EU should quickly decide on its export policy, "to protect the EU's strategic interests and to project a strong EU voice on the global stage."