Chancellor Scholz Warns Against Nationalism at Semiconductor Plant Launch

German Chancellor Olaf Scholz highlighted the dangers of nationalism while emphasizing the importance of boosting semiconductor production at a plant groundbreaking in Dresden. The $11.08 billion investment by TSMC and others aims to strengthen Germany's chip industry, situated in Saxony.

German Chancellor Olaf Scholz warned against the rise of nationalism in eastern Germany during the groundbreaking ceremony for a semiconductor plant in Dresden on Tuesday. He cautioned that such sentiments could threaten significant investments in future technologies.

“We still need a pro-European Germany that's open to the world, instead of nationalism and resentment,” Scholz stated, referring to the 10-billion-euro ($11.08 billion) plant planned with Taiwanese chip giant TSMC and other investors. He stressed that maintaining openness and confidence would ensure continued major investments in Silicon Saxony and eastern Germany.

Scholz underscored the critical importance of semiconductor production for Germany's industrial survival and climate targets. He also highlighted the need to reduce European dependence on global supply chains.