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Italy Looks to Bolster Strategic Industrial Sectors, Promote Foreign Investment Programs

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The Italian government is drafting measures to support the country’s strategic industrial sectors, including microelectronics, and promote foreign investment programs worth at least $1.1 billion, Reuters reported.

Citing documents it obtained, the news agency said Italy plans to provide tax breaks of approximately $689 million for five years to support research and development efforts in microelectronics.

The upcoming decree involves the potential appointment of a commissioner dedicated to implementing the envisioned investment programs.

The government also plans to strengthen golden power regulation to protect strategic assets in key technologies, including aerospace, energy storage, quantum and nuclear, as well as in artificial intelligence, semiconductor manufacturing and cybersecurity.

Additionally, the planned measures would increase the limits on electromagnetic emissions to accelerate the rollout of 5G networks.

The news of the decree came out amid ongoing negotiations between Italy and Intel about the U.S. chipmaker’s ambition of building an advanced packaging and assembly factory in the country to expand its manufacturing capabilities in the region. Reports said the Italian cabinet is scheduled to discuss the draft decree on Monday for potential program amendments.

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