During the meeting, the two discussed the opportunities offered by Cisco's announced investment to locate its new semiconductor design center in Barcelona. This is the multinational's first installation of this type in the European Union, in what represents a commitment to Spain, following the meetings held previously between Sánchez and Robbins at Moncloa Palace in July 2021 and at the most recent Davos forum last May.
"Spain is becoming a key player in achieving the EU's goal of reaching 20% of the global chip market by 2030. We have approved the PERTE for microchips and we have the roadmap, reforms and incentives to attract talent and consolidate the current Spanish ecosystem", said the President of the Government of Spain, reiterating our country's commitment to the European goal of manufacturing one out of every five microchips that will be produced in the world.
Making Spain a global benchmark in this field is one of the government's top priorities. The Strategic Project for Economic Recovery and Transformation (PERTE) in microelectronics and semiconductors
will mobilize more than €12 billion as part of the Recovery Plan funds to reindustrialize our country.
Cisco's new project will be located in the technology company's innovation center in Barcelona. The investment comes in the context of the semiconductor PERTE, which aims to boost further semiconductor operations. Spain is well positioned in this strategic sector, with favorable regulation, and it is a hub for international talent and entrepreneurship through initiatives such as the Startups Law.
The PERTE with the highest public investment
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Group photo of the meeting between the President of the Government of Spain, Pedro Sánchez, and the CEO and global president of Cisco Systems, Chuck Robbins | Pool Moncloa/Fernando Calvo
Semiconductors is the PERTE with the highest public investment. This is the most ambitious Recovery Plan project in terms of its transformational impact on industry and its contribution to strengthening Spain's and the European Union's strategic autonomy in technological matters, a crucial element in view of the situation in Russia and Ukraine.
The aim is to promote all stages of semiconductor production in Spain, a key sector for the Spanish industrial fabric in areas such as automotive, aerospace, health equipment, telecommunications, energy production and industrial automation. Through close public-private collaboration, the government's strategy aims to strengthen scientific capacity and R&D&I in cutting-edge microprocessors in Spain.
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UNOFFICIAL TRANSLATION
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Original statement from La Moncloa (Spanish Presidency)