Italy's Draghi says Europe must increase its chip production

ROME - Italy's Prime Minister Mario Draghi said it was a priority for European countries to increase production of computer chips as part of a wider effort aimed at strengthening the bloc's economy and protecting key industries.

"The shortage of semiconductors - essential for many strategic industries such as transport, industrial machinery, defence - has been particularly damaging," Draghi said, speaking to parliament.

He added that it was Europe's ambition to increase its market share from 10% to 20% of global chip production by 2030.