(Bloomberg) -- The European Union will publish proposed legislation in early February to make the continent a leader in chip production, Commission President Ursula von der Leyen announced today.

The European Chips Act will further adapt state aid rules “under a set of strict conditions,” the head of the EU’s executive arm said during a virtual address at the World Economic Forum. “This will allow public support -- for the very first time -– for European ‘first of a kind’ production facilities so that benefit all of Europe.”

The EU wants to become more involved in chip production, with a target of producing 20% of the world’s value of semiconductors by 2030, up from 10%.

Currently, the EU is a world leader on chip research and production equipment but lags behind in producing chips, particularly state-of-the-art versions. A global supply shortage of semiconductors highlighted the continent’s dependence on Asia and the U.S.

Von der Leyen warned that most of the continent’s chips supplies come from outside the bloc. “This is a dependency and uncertainty we simply cannot afford.”

Major semiconductor producers are eying European expansion plans, with Taiwan Semiconductor Manufacturing Co. exploring a location in Germany and U.S. company Intel Corp. due to announce a number of investments in Germany, France and Italy.

State aid rules currently allow for public money to go to chip companies largely for research. The EU made changes to its state aid rules last year to open the door to more funding for cutting-edge chips production.

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