Dutch Government Injecting €1B to Retain ASML in Netherlands

The Dutch government is taking significant steps to secure ASML's presence in the Netherlands with a reported injection of at least €1 billion in funding. Amid speculations about ASML considering relocation, the government has set up a secret task force called 'Operation Beethoven' to address the company's concerns about the business climate. Additionally, plans are underway to allocate the funding for the development of Eindhoven, where ASML's offices are based. The investment aims to target infrastructure, housing, and the expansion of the Eindhoven University of Technology to support the cultivation of a technically-skilled workforce. The potential departure of ASML would be detrimental to the Dutch economy, considering its status as one of the country's largest employers and most profitable businesses. As Europe's most valuable tech company and a key player in the global semiconductor supply chain, ASML's retention is crucial. The Dutch government's shift in perspective and commitment to defending the company's interests underscores its efforts to retain ASML amidst the evolving chip war landscape. These measures signify the government's recognition of ASML's pivotal role and its determination to preserve the company's presence within the country.