New report recommends Canada form government-led consortium of semiconductor buyers
BNN Bloomberg
A new report from Canada's Semiconductor Council says the country should form a government-led consortium of chip buyers by 2025 to overcome a global shortage crippling manufacturers and prevent further troubles.
TORONTO - A new report from Canada's Semiconductor Council says the country should form a government-led consortium of chip buyers by 2025 to overcome a global shortage crippling manufacturers and prevent further troubles.
The report released on Tuesday and based on input from 100 business leaders, chipmakers and investors says a consortium making high volume purchases of semiconductors would give the country more negotiating power with international suppliers.
“The time for us to act is now,'' said Melissa Chee, a member of the council formed in May and the president of VentureLab, a tech hub in Ontario's York Region.
“We are heading into a holiday season and most of the things that people may be looking to buy all likely have electronics built into them. This is really Canada's moment to shine and get on to the podium.''
Chee's remarks and the consortium suggestion - one of 20 recommendations made in the council's report - come as businesses around the world are struggling to address supply chain issues.
Shortages of workers and materials, soaring shipping costs and overwhelmed ports are making manufacturing and delivering goods increasingly difficult and costly.
