Dutch government to fund ASML's local development
The Dutch government has recently taken positive action in its commitment to retain ASML, the world's leading semiconductor equipment company, in the Netherlands and to provide significant financial support for its future development.
The Dutch government has recently taken proactive measures to preserve the leading position of ASML, a global semiconductor equipment company, in the Netherlands and provide substantial financial support for its future development. This initiative not only contributes to stabilizing the Dutch economy but also holds significant importance for the global semiconductor industry.
According to reports, the Dutch government plans to inject at least €1 billion into ASML to ensure the company remains in the Netherlands. The funds will be used for the development of ASML's office location in Eindhoven, including infrastructure investments, housing construction, and the expansion of Eindhoven University of Technology to nurture future technical talent.
Furthermore, the government is considering maintaining the 30% ruling, which allows foreign workers in the Netherlands to keep 30% of their income tax-free, and permitting companies to buy back stocks without taxation.
As one of the largest employers in the Netherlands, ASML is expected to reach a turnover of $27.6 billion in 2023, making it one of the most valuable technology companies in Europe. As the sole manufacturer of EUV lithography equipment, ASML plays a crucial role in the global semiconductor supply chain, which is essential for global chip manufacturing.
Despite previous restrictions imposed by the government on ASML's sale of two machines to China, the Dutch Minister of Trade has stated that safeguarding the company's interests is the government's top priority. The strong support for ASML demonstrates the Dutch government's commitment to its domestic technology industry and its desire to maintain its leading position in the global semiconductor industry through such measures.
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