ASML looks to leave the Netherlands

The Dutch government is actively working to convince semiconductor giant ASML to remain in the Netherlands amidst growing concerns over the nation's immigration policies. Dubbed 'Operation Beethoven,' this initiative aims to retain ASML, a cornerstone of the Dutch economy and Europe's semiconductor industry. ASML heavily relies on foreign talent, with 40% of its workforce comprised of non-Dutch nationals. CEO Peter Wennick has voiced apprehensions about potential changes in migration laws affecting their ability to attract skilled workers domestically. Worries have been raised about the impact of new regulations on tax breaks and the participation of foreign students in Dutch universities.

With ASML hinting at considering France as an alternative location, the Dutch government faces the challenge of balancing ASML's expansion aspirations with concerns about the strain it could place on the country's infrastructure. Economic Affairs Minister Micky Adriaansens has emphasized ongoing discussions to address these issues and ensure ASML's continued presence in the Netherlands.

ASML's growth trajectory is fueled by surging global demand for semiconductors, prompting efforts by both the US and EU to strengthen domestic semiconductor production and reduce dependence on China. As the semiconductor industry continues to play a pivotal role in various sectors, including technology and manufacturing, retaining ASML within the Dutch borders holds significant economic importance for the country and the broader European semiconductor ecosystem.