Canada will invest C$240 million to develop semiconductor industry

Canada's Minister of Innovation, Science and Economic Development François-Philippe Champagne said Monday that the country will invest 240 million Canadian dollars ($189 million) in the semiconductor industry to support chip manufacturing and research.

It is reported that Canada will launch a 150 million Canadian dollar Semiconductor Challenge Callout fund to support semiconductor research and development and supply, and another 90 million Canadian dollars will be allocated to the Canadian Photonics Manufacturing Center under the National Research Council of Canada.

Champagne said the purpose of the investment is to " strengthen Canada's position in the industry, " which currently includes more than 100 local and multinational companies engaged in microchip research and development. He added: "We have a strong commitment to companies looking to invest in Canada, both in terms of high value-added and large-scale manufacturing, and we would like to see Canada become home to the world's leading semiconductor manufacturers."

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