“Significant gap in industry-politician awareness”
Opinions are divided on whether to actually relocate overseas.
Evaluation of “pressure to secure foreign workers”
ASML, a Dutch company known as the ‘Super Eul’ of the semiconductor industry, protested against its own policy and suggested the possibility of relocating overseas. Even the Prime Minister met with the company’s leadership, but was unable to narrow down their differences. ASML, the world’s only extreme ultraviolet (EUV) exposure equipment manufacturer, possesses essential technologies related to artificial intelligence (AI) semiconductors, and has recently been receiving explosive attention as countries are putting their lives at risk to attract semiconductor companies.
According to Reuters and Dutch RTL News, ASML CEO Peter Beninck met with Dutch Prime Minister Mark Rutte on the 6th (local time) and said, “There is a significant gap in the perception of what the industry and the political world need.” “We confirmed that there is a considerable gap,” he said. “If the company cannot grow in the Netherlands, we have no choice but to look for places where we can grow.”
However, CEO Bennink said, “I have no plans to leave right now,” and “the cabinet and ASML are in agreement on most topics.” Reuters analyzed that “although realizing the previous plan has been ruled out, the two sides have not been able to reach a resolution of issues surrounding future growth.”
According to Dutch media outlet NL Times, the tense war of nerves between the political circles and ASML was revealed even before the prime minister’s meeting. On the same morning, ASML held a conference on the topic of attracting technology startups, but five of the six incumbent lawmakers who were scheduled to attend suddenly canceled their schedules that morning. The NL Times explained, “As pressure to attract foreign workers for the industry grows, the political world has revealed its discomfort.” CEO Beninck said he did not hide his discomfort, saying, “It shows how little interest the political world has in attracting and growing innovative companies.”
Locally, opinions are divided over whether ASML will actually move its headquarters abroad. Jos Persteich, a senior analyst at Insinger Hillisun Bank, told RTL News, “I think it is unlikely that ASML will move its entire factory abroad or make new investments abroad.” “It’s a card,” he said. ASML, which is currently having difficulty recruiting new employees, believes that it is realistically impossible for its 23,000 employees to move abroad or to find new employees.
On the other hand, Jim Tehupuring, former director of Euronext, Europe’s largest stock exchange, said, “It is not just anti-immigration issues, but the Netherlands has recently implemented policies that are impeding the growth of ASML.” He added, “The government has been raising corporate income tax for several years. “If restrictions on exports to China are not lifted, there is a high possibility that we will consider moving abroad,” he pointed out. However, even if a relocation decision is made, it is expected that it will take several years because the factory will have to be gradually relocated to a foreign country.
According to the leading Dutch newspaper The Telegraf, the Dutch government recently formed a task force (TF) ‘Beethoven’ team to catch ASML, and is paying such attention to this issue that Prime Minister Rutte is directly leading the charge. After the anti-immigration far-right party won last year’s general election, the Dutch parliament passed a bill gradually reducing tax exemptions granted to foreign skilled workers and limiting the number of international students. ASML, where more than 40% of its employees are foreigners, has expressed concern several times.
Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.