Industrial Policy & Trade Monitor· 2670 actions· ✨ 89 recent

Vietnam issued Decree 182/2024/ND-CP on 31 December 2024, establishing the Investment Support Fund (ISF) to provide direct cash subsidies for high-tech enterprises and R&D centers. The decree offers up to 50% of initial investment costs for semiconductor and AI R&D projects meeting qualifying thresholds. The ISF is managed by the Ministry of Planning and Investment, with support available for operating costs, fixed asset investments, workforce training, and high-tech product manufacturing.

Regulation (EU) 2025/40, published in the Official Journal on 22 January 2025 and entering into force on 11 February 2025, replaces the 1994 Packaging and Packaging Waste Directive 94/62/EC with a directly-applicable Regulation. It mandates binding recycled-content targets for plastic packaging (by polymer and format, reaching 30–65% by 2030 with higher targets by 2040), minimum reusable-packaging shares for beverages and transport, recyclability standards for all packaging placed on the EU market from 2030, deposit-return-scheme obligations for beverage containers from 2029, and bans on specified single-use plastic packaging formats. General application begins 12 August 2026, with staggered compliance windows extending to 2030 and beyond, affecting all non-EU exporters shipping consumer goods, beverages, or e-commerce fulfilment into the EU single market.

Tunisia's Finance Law for 2025 (Loi n° 2024-48, signed 9 December 2024, published in JORT n° 149 on 10 December 2024) institutes under Article 38 a one-year Contribution Conjoncturelle — a cyclical windfall-style fiscal levy — applicable to all enterprises subject to the standard 15% corporate income tax rate whose 2023 turnover exceeded 20 million dinars (excluding VAT). The contribution is set at 2% of the taxable profits for fiscal year 2025, with a minimum floor of 1,000 dinars, and is explicitly non-deductible from the corporate income tax base. The measure is a budget-financing instrument adopted in the context of the stalled IMF Extended Fund Facility programme (suspended since 2023) and constitutes the IPTM register's second Tunisia-issuer action, extending the LF-year-on-year Tunisian fiscal-policy arc established by LF2024 Art. 33.

UAE Cabinet Decision No. 142 of 2024, announced 9 December 2024 and formally gazetted 11 February 2025, introduces a Domestic Minimum Top-Up Tax (DMTT) on UAE constituent entities of Multinational Enterprise (MNE) groups with consolidated annual revenues ≥ EUR 750 million in at least two of the four preceding fiscal years. The DMTT ensures a 15% minimum effective tax rate (ETR) on UAE-source profits, functioning as a Qualified Domestic Minimum Top-up Tax (QDMTT) under the OECD/G20 Pillar Two GloBE framework, thereby giving the UAE first-priority taxing right before any IIR top-up by a parent-jurisdiction authority. The measure applies to fiscal years beginning on or after 1 January 2025. The UAE deliberately excluded the Income Inclusion Rule (IIR) and Under-Taxed Profits Rule (UTPR) from this primary instrument, deferring those to subsequent Cabinet Decisions; the QDMTT-only architecture mirrors Singapore's MEMTA and Switzerland's MindStV as the first-mover design choice for established low-tax financial hubs.

The US Bureau of Industry and Security issued its largest single export-control package targeting China's semiconductor industry on 2 December 2024, with three layered measures (final rules published in the Federal Register 5 December 2024). First, controls on high-bandwidth memory (HBM) above set performance thresholds — blocking the memory architecture that is foundational to AI training. Second, additions of 24 semiconductor manufacturing equipment item types to the Commerce Control List, covering deposition, etch, ion- implant, advanced packaging, and metrology categories. Third, Entity List designations for 140+ entities, the bulk Chinese semiconductor companies + equipment makers + investment vehicles, including major Chinese fab tooling firms. The package triggered MOFCOM's same-day-following retaliation (filed: 2024-12-03-china-mofcom-ge-ga-sb-export-ban-us).

South Korea's Ministry of Trade, Industry and Energy (MOTIE), in coordination with the Ministry of Strategy and Finance, announced on 15 November 2024 amendments to the Foreign Exchange Transactions Act and the Industrial Technology Protection Act introducing a notification + review regime for outbound investments by Korean firms in advanced semiconductor manufacturing or critical-component production in "strategic concern" jurisdictions, principally China. The regulation, effective 1 April 2025, requires Korean firms whose technology is designated as a "national core technology" (NCT) to obtain MOTIE approval before establishing or expanding overseas manufacturing facilities using that technology. The list includes Samsung's HBM, SK Hynix's DRAM/NAND advanced-node processes, and certain silicon-wafer technologies.

President Ferdinand R. Marcos Jr. signed Republic Act No. 12066 — the CREATE MORE Act ("Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy") — on 11 November 2024, with the law taking effect on 28 November 2024. RA 12066 amends the 2021 CREATE Act (RA 11534) to extend the maximum tax-incentive availment for Registered Business Enterprises from 17 to 27 years, cuts the corporate income tax to 20% for RBEs under the Enhanced Deductions Regime (vs the standard 25% / SCIT 5%), grants a 100% additional power-expense deduction (raised from 50%) for manufacturers, expands VAT zero-rating and import VAT-exemption for export-oriented enterprises, raises the IPA approval threshold from PHP 1bn to PHP 15bn, and institutionalises work-from-home for ecozone/freeport RBEs.

In two consecutive sectoral notifications, Pakistan's Special Technology Zones Authority (STZA) — a federal body under the Cabinet Division — formally declared two additional Special Technology Zones. The Khanpur Industrial Project (Mumrial, Khanpur, District Haripur, Khyber Pakhtunkhwa; ~197 acres / 199,174 sq ft of existing and proposed infrastructure) was notified on 12 September 2024. The LEOS Technology Zone (Lehtrar Road, Nilore, Islamabad; 19.23 acres / 225,562 sq ft) was notified on 8 November 2024. Both zones operate under the Special Technology Zones Authority Act, 2021 incentive regime, which provides Zone Enterprises and Zone Developers a 10-year exemption from income tax, customs duty on capital-goods imports, and sales tax (under the Customs Act 1969, Income Tax Ordinance 2001 and Sales Tax Act 1990), together with eligibility for Special Forex Accounts under State Bank of Pakistan regulations (no requirement to convert USD inflows to PKR). The umbrella incentive window for the STZA regime runs until 30 June 2035, with each zone enterprise's 10-year clock starting from the date the zone developer certifies commercial operation.

Türkiye's Ministry of Energy and Natural Resources (ETKB) published the YEKA GES-2024 tender specification in Resmî Gazete No. 32712 on 4 November 2024, allocating 800 MW of utility-scale solar PV capacity across six Renewable Energy Resource Areas (Bor/Niğde, Hisarcık/Kütahya, Tefenni/Burdur, Kayseri, Kahramanmaraş, Hilvan/Şanlıurfa) with 49-year land-use rights and 15-year USD-denominated power-purchase agreements through EÜAŞ. The auction concluded in January 2025 at a record-low ceiling price of USD 3.25 c/kWh, re-activating the YEKA pipeline after a multi-year pause and signalling a ~2 GW/year cadence through 2035 to meet the National Energy Plan target of 52.9 GW installed solar capacity by 2035. The specification includes local-content scoring and domestic-manufacturing commitments that shape foreign EPC and module-supplier access to the Turkish utility-scale solar market.

In a final rule published at 89 FR 84766 (FR Doc 2024-23932), the US Bureau of Industry and Security (BIS) amends the Export Administration Regulations (EAR) to remove BIS licence requirements on certain spacecraft and related items — including remote-sensing spacecraft and on-orbit servicing, assembly, and manufacturing (OSAM) items — for exports and reexports to Australia, Canada, and the United Kingdom. The rule is effective immediately on publication (23 October 2024) and is part of a three-rule package modernising the US space-related export-control regime (companion IFR 2024-23958 broadens controls relief for ~40 additional destinations; companion proposed rule 2024-23975 floats a new License Exception Commercial Space Activities). The AU/CA/UK carve-out builds on the trilateral National Technology and Industrial Base (NTIB) framework.

On 18 October 2024 the Government of the Republic of Kazakhstan approved Government Resolution No. 868 adopting the Concept of Investment Policy of the Republic of Kazakhstan until 2029. The Concept sets a binding strategic-document target to attract at least US$150 billion in foreign direct investment over 2024-2029 and to raise fixed-capital investment from approximately 15.1% of GDP (2023) toward 23-25.1% of GDP by 2029. Its principal new instruments are (i) Development Bank of Kazakhstan (DBK / BDK) concessional lending at 6% interest for a 10-year tenor for the engineering infrastructure of new industrial projects, (ii) regional investment headquarters (one per oblast) modelled on the existing national Investment Headquarters under the Prime Minister, (iii) a national digital investment platform (invest.gov.kz) for streamlined permitting and investor aftercare, (iv) a unified register of investor issues and complaints administered by the Ministry of Foreign Affairs as the designated FDI-attraction owner, and (v) counter-obligations (localisation, employment, technology transfer) imposed on recipients of state preferences. The Concept is the principal implementing instrument under the 2021 Law on Industrial Policy (Law No. 86-VII ZRK) on the investment-attraction side and is designed to operate alongside the 2023 REE Comprehensive Plan and the 2025 Subsoil Code amendments on the minerals-extraction side.

The Bureau of Industry and Security (BIS) issued a final rule on 16 October 2024 revising paragraph (c) of 15 CFR § 740.24 (License Exception Implemented Export Controls, "IEC") to update the version date of the IEC Eligible Items and Destinations table incorporated by reference and to replace the long URL pointing to that table with the simpler address www.bis.gov/IEC. The underlying table update — posted to the BIS website on 17 September 2024 — adds Denmark and Finland as IEC-eligible destinations and modifies the entries for Japan. License Exception IEC is the mechanism by which BIS authorises shipments of the September 2024 plurilateral export-control items (advanced semiconductor, quantum, and additive-manufacturing technologies) to destinations whose governments have implemented substantially equivalent controls.

The Türkiye Ministry of Trade's Imports General Directorate published Communiqué No. 2024/33 in Resmî Gazete No. 32689 on 11 October 2024, imposing definitive ad valorem anti-dumping duties on hot-rolled flat steel products originating in the People's Republic of China, India, Japan and the Russian Federation. Duties range from 6.10% to 43.31% CIF and run for a five-year initial term from the date of publication, subject to interim or expiry review. The measure covers roughly 90 tariff lines under CN/HS chapters 7208, 7211, 7212, 7225 and 7226 — the principal hot-rolled flat-steel customs codes. China-origin producers face the widest dispersion (residual 43.31% on unsampled producers, named-producer rates 15–36%); Japan applies a flat 9% to all producers; India and Russia residuals sit at 9% with named- producer rates as low as 6.0–6.10%. Imports of "plate rolled in a plate mill" accompanied by a Producer's Certificate under Notice 2002/1 are exempt. The petition was filed by TÇÜD (Türkiye Çelik Üreticileri Derneği — Turkish Steel Producers' Association) on behalf of integrated mills Erdemir, İsdemir, Çolakoğlu, Habaş and Tosçelik, and addresses Chinese HRC diversion to the Türkiye market following US Section 232 steel tariffs and EU CBAM/safeguard tightening.

Bulgaria's Ministry of Economy and Industry, in partnership with the European Commission Structural Reform Support Directorate and contractor Ernst & Young Bulgaria, launched development of the National Industrial Strategy for Manufacturing and Mining Industry Sectors 2025-2030 on 10 October 2024. The strategy covers Bulgaria's two most carbon- and energy-intensive economic sectors — manufacturing and extractive industries — and integrates EU Critical Raw Materials Regulation, Net Zero Industry Act, and Carbon Border Adjustment Mechanism provisions into a national strategic framework. Expected adoption by end of 2026, it will be Bulgaria's first comprehensive post-EU-CRMA sectoral industrial-policy framework for mining and manufacturing, and closes a structural gap in the country's industrial policy architecture.

On 10 October 2024 the Czech government approved the National Semiconductor Strategy, prepared by the Ministry of Industry and Trade (MPO). The strategy sets five objectives to be reached by end-2029: a 300% increase in semiconductor sector sales versus 2022, a 300% increase in semiconductor component production versus 2022, a 200% increase in exports of semiconductor technologies, growth of the specialist workforce to 9,000 experts, and the build-out of a national competence centre. The strategy is positioned as the Czech implementation track for the EU Chips Act and identifies power electronics, integrated-circuit design and semiconductor manufacturing equipment as the country's competitive niches.

Norway's Ministry of Foreign Affairs amended the Eksportkontrollforskrift (Regulations on the export of defence- related products, dual-use items, technology and services) to add a new national control list — Annex III ("List III") — for emerging and disruptive technologies not yet covered by the EU dual-use list. Exports of items on Annex III require a licence from the Ministry of Foreign Affairs regardless of destination, including a catch-all licensing obligation. Controls cover semiconductor manufacturing equipment (including dry-etch apparatus), enriched silicon/germanium substrates, high- performance integrated circuits, quantum computers above specified controlled-qubit thresholds, quantum software and technology, software/technology for reverse-engineering integrated-circuit layouts, and additive-manufacturing equipment for metal/alloy components. The amendment, announced 3 October 2024 and effective 1 November 2024 (with a one-month transitional period), aligns Norway with parallel national measures adopted by the United States (BIS 6 Sep 2024 emerging- technology IFR), the Netherlands, the United Kingdom, Japan, Spain, Denmark and Finland.

On 21 September 2024 Prime Minister Phạm Minh Chính signed Decision No. 1018/QĐ-TTg approving Vietnam's first national strategy for semiconductor industry development through 2030 with vision to 2050. The strategy is built around the "C = SET + 1" formula (Chip = Specialised + Electronics + Talent + Vietnam) and sets a three-phase roadmap: ≥100 design firms / ≥10 ATP plants / 1 fab and USD 25bn semiconductor revenue by 2030; ≥200 design firms / ≥15 ATP plants / 2 fabs and USD 50bn revenue by 2040; ≥300 design firms / ≥20 ATP plants / 3 fabs and USD 100bn revenue by 2050. It also targets training of 50,000 semiconductor engineers by 2030 and designates the Ministries of Information & Communications, Planning & Investment, and Science & Technology as lead agencies.

On 6 September 2024 China's National Development and Reform Commission (NDRC) and Ministry of Commerce (MOFCOM) jointly issued Order No. 23, the Special Administrative Measures (Negative List) for Foreign Investment Access (2024 Edition), effective 1 November 2024. The 2024 list reduces nationwide restrictions from 31 to 29 entries, removing the last two manufacturing- sector restrictions (publication printing must be Chinese-controlled; investment in TCM-decoction steaming/roasting/calcination processes and confidential-formula proprietary Chinese-medicine production prohibited). Restrictions remain in services (telecommunications value-added, healthcare, education) and in 21 prohibited categories (news publishing, postal monopoly, fishing, gene therapy, tobacco). The 2021 edition is repealed on the same date.

On 6 September 2024 the Dutch government announced an expansion of its national export-control measure on advanced semiconductor manufacturing equipment, bringing two additional ASML DUV immersion lithography systems — TWINSCAN NXT:1970i and NXT:1980i — under a Dutch national authorisation requirement for shipments to destinations outside the EU. The measure took effect on 7 September 2024 via a ministerial regulation published in Staatscourant 2024 no. 29008. Until this point those two older system variants were controlled extraterritorially through the US Foreign Direct Product Rule; the change transfers licensing authority from BIS to the Dutch government and aligns the Dutch national list more tightly with the perimeter set by the June-2023 measure on NXT:2000i+. ASML characterised the update as a "technical change" with no expected impact on its 2024 financials or longer-term outlook.

The US Bureau of Industry and Security issued a final rule on 5 September 2024 (effective 6 September 2024, published in the Federal Register on the same day as 89 FR 73285) establishing multilateral export controls on four categories of emerging technologies: (1) quantum computing items including quantum computers, related cryogenic / control / measurement systems, and certain quantum software; (2) gate-all-around field-effect transistor (GAAFET) production technology — the next-node semiconductor architecture beyond FinFET; (3) advanced additive-manufacturing equipment for metals + alloys; (4) certain biotech-related items added in a parallel rule on 12 September 2024. The rule operates without country exceptions for some categories, with multilateral coordination via Wassenaar + Australia Group + Nuclear Suppliers Group frameworks.

On 11 August 2024, King Salman issued Royal Decree No. M/19 promulgating Saudi Arabia's new Investment Law (Nizam al-Istithmar), which entered into force on 12 February 2025 (180 days after publication in the Um Al-Qura' Gazette). The law replaces the 2000 Foreign Investment Law (Royal Decree M/1) and eliminates the statutory distinction between Saudi and non-Saudi investors, establishing a unified national-treatment framework: foreign investors no longer require a separate MISA foreign-investment licence and instead complete a streamlined registration with a national registry before commencing activity (other than listed securities, which remain under CMA rules). The law codifies fair-and-equitable treatment, freedom to manage and repatriate capital, IP protection, and protection from expropriation except by final judicial ruling with prompt compensation; activities are open by default, subject only to an "Excluded Activities" list maintained by an inter-ministerial committee. Implementing Regulations were issued by Ministerial Resolution No. 1086 dated 8/8/1446H (7 February 2025) and published in Um Al-Qura' Gazette issue 5083 on 25 April 2025. The law is the foundational FDI architecture for Vision 2030 and pairs with the 30-year RHQ tax-incentive package and the 2021 Mining Investment Law.

On 26 July 2024 the Thai National Electric Vehicle Policy Committee (EV Board), chaired by Deputy PM Pichai Chunhavajira, approved a dedicated excise-tax incentive package for hybrid-electric-vehicle (HEV, ≤ 10-seat passenger) manufacturing distinct from the BEV-only EV 3.5 regime. Qualifying manufacturers receive a locked excise rate of 6% on HEVs emitting ≤ 100 g CO2/km and 9% on 101-120 g CO2/km vehicles for the 2028-2032 period, conditional on a minimum new investment of THB 3 billion during 2024-2027, BOI approval, mandatory use of key Thai-produced parts, and inclusion of at least four of six listed ADAS safety features. The measure is expected to draw THB 50 billion (~USD 1.4 billion) in additional HEV manufacturing investment and is positioned as the intermediate-emission complement to EV 3.5's BEV-only purchase subsidies and 2% excise rate, extending Thailand's "EV Hub of ASEAN" industrial strategy to capture Japanese OEM hybrid-platform capex (Toyota, Honda, Nissan, Mazda) alongside the Chinese-OEM BEV wave already locked in under EV 3.5. The decision required separate Cabinet endorsement and was published via the BOI /EV-Board channel rather than amending the EV 3.5 instrument.

On 26 July 2024 President Erdoğan unveiled the HIT-30 (High-Technology Investment Programme), Türkiye's largest single industrial-finance instrument since the 2018 Investment Office reform, allocating USD 30 billion in state support over 2024-2030 to attract investment across 37 priority programmes spanning electric vehicles, batteries, semiconductors, solar/wind energy, green hydrogen, hyperscale data centres, biotechnological medicine, industrial robotics, and R&D. The Ministry of Industry and Technology is the operating agency, with the Industrialization Executive Committee chaired by the President providing high-level oversight; an Industrialisation Executive Committee under the President directs sectoral allocations. Headline tools include USD 4.5bn earmarked for an 80 GWh battery-manufacturing capacity (with USD 6,000/MWh grants through 2030), USD 2.5bn for 15 GW of domestic solar-cell capacity, USD 1.7bn for wind-component manufacturing, USD 1bn for top-1000 corporate R&D centre support (covering 50% of personnel costs for 5 years), corporate tax reductions, social-security-contribution coverage, energy-cost subsidies covering 50% of bills for energy-intensive projects, customs/VAT exemptions, and free or discounted land allocation in organised industrial zones. Programme targets at least USD 20bn in private-sector co-investment.

The German Federal Cabinet adopted a 49-measure cross-sectoral supply-side reform package on 17 July 2024 alongside the draft 2025 Federal Budget, aimed at reversing Germany's decade-long slide in global competitiveness rankings (from 6th to 24th since 2014). The package covers tax and social-security exemptions for overtime and weekend work, foreign skilled-worker incentives (Aktivrente / extended short-time-work rules), bureaucracy reduction targeting ~€944m/yr in compliance-cost savings, flexible working-time arrangements, energy-price relief for industry (Strompreispaket), accelerated infrastructure and planning-procedure reforms, expanded investment deductions and degressive depreciation for movable assets, and a raised R&D-allowance ceiling. The initiative is the supply-side / regulatory-reform complement to the simultaneously adopted SVIKG €500bn special infrastructure fund and is structurally analogous to the UK Mansion House Reforms and France's France 2030 productivity-enhancement pillar.

The National Assembly of the Lao PDR adopted the amended Law on Investment Promotion (No. 62/NA) on 28 June 2024; it entered into force on 16 December 2024, replacing the 2016 Investment Promotion Law and the 2019 Article-12 amendment. The statute spans 13 parts and 109 articles (62 amended, 32 new) and establishes the foundational legal architecture for domestic and foreign investment in Laos, setting out promotion categories, fiscal-incentive regimes, one-stop-service approval pathways, and investor-protection guarantees. Key reforms tighten the framework for large strategic-sector FDI in mining and hydropower — requiring partial state ownership — while expanding CIT/tax-holiday and customs-duty exemptions by SEZ category and sector-promotion zone. The law operationalises the Investment Promotion and Management Committee (IPMC) as the one-stop regulatory authority, enhancing alignment with the Lao-China Railway-driven Chinese-FDI surge and positioning Laos within the ASEAN horizontal investment-promotion reform wave.

Regulation (EU) 2024/1735 - the Net Zero Industry Act (NZIA) - was published in the Official Journal on 22 June 2024 and entered into force on 12 July 2024 (twenty days after OJ publication). It sets a binding target that at least 40% of the EU's annual deployment needs for net-zero technologies be manufactured within the EU by 2030. It establishes a streamlined permitting regime for Net-Zero Strategic Projects (NZSP) capped at 18 months for construction permits (9 months for smaller projects), creates Net-Zero Regulatory Sandboxes, and requires public procurers and auction designers to include resilience and sustainability criteria that effectively favour non-China-sourced equipment. The Act is the manufacturing-capacity complement to the Critical Raw Materials Act (CRMA, Reg 2024/1252, filed separately) and was explicitly designed to close the EU's competitive gap with US IRA manufacturing incentives.

President Luis Abinader signed Decreto No. 324-24 on 13 June 2024, declaring the promotion, innovation, and development of the semiconductor industry in the Dominican Republic as "alta prioridad nacional" (high national priority) and directing MICM to formulate a National Strategy for the Promotion of the Semiconductor Industry (ENFIS). The decree was published in the Official Gazette on 28 June 2024, establishing a high-level inter-ministerial coordination mechanism and linking the initiative to the free-trade-zone incentive framework under Law 8-90. ENFIS was formally launched on 19 August 2025 by President Abinader and MICM Minister Víctor Bisonó at the Día Nacional de las Zonas Francas, structuring the strategy across five pillars: Industrial Development, Governance and Policy, Workforce and Human Capital, Investment Attraction, and Innovation and R&D Ecosystem.

Prime Minister Anwar Ibrahim launched Malaysia's National Semiconductor Strategy (NSS) on 28 May 2024 in his keynote at SEMICON Southeast Asia, with implementation led by MITI. The NSS commits at least RM25 billion (~USD 5.3 billion) in fiscal support over a ten-year horizon and structures the chip industrial policy in three sequential phases: (1) shoring up Malaysia's existing strength in outsourced semiconductor assembly and test (OSAT) and back-end packaging, (2) moving domestic firms into integrated-circuit (IC) design, advanced packaging and advanced manufacturing equipment, and (3) developing Malaysian-owned global champions across the chip value chain under a "Made by Malaysia" framing. Headline targets include developing 10 local design and advanced- packaging companies with revenues between RM1 billion and RM4.7 billion, 100 broader semiconductor-related companies near the RM1 billion revenue mark, and training 60,000 high- skilled engineers. The RM25 billion envelope decomposes into RM5 billion in tax forgone over five years, RM2 billion for existing capital grants, RM1.25 billion for an HRD Fund semiconductor allocation, RM2 billion for a Semiconductor Industrial Park, RM1.59 billion for an Advanced Packaging Centre, plus RM2 billion each for the National Energy Transition Facility and Green Tech Financing Scheme. By June 2025, the government reported RM70.7 billion in announced investments attracted under the NSS umbrella.

China registered the National Integrated Circuit Industry Investment Fund III Co., Ltd. ("Big Fund III") in Beijing on 24 May 2024 with RMB 344 billion (~USD 47.5 billion) of registered capital — the largest single capital raise of the three Big Fund phases (Phase I 2014: RMB 138.7bn; Phase II 2019: RMB 204bn). Nineteen state-owned investors contribute, led by the Ministry of Finance (17% / RMB 60bn) and the six largest state-owned commercial banks (ICBC, ABC, BoC, CCB ~6.25% each at RMB 21.5bn; BoCom RMB 20bn; PSBC RMB 8bn). Duration 15 years (24 May 2024 → 23 May 2039). The fund explicitly targets the chokepoints exposed by US BIS October 2022/2023/2024 controls — semiconductor manufacturing equipment, advanced memory (HBM/DRAM), AI accelerators, and third-generation compound semiconductors (SiC, GaN).

Australia's Future Made in Australia package, announced in the 2024-25 Federal Budget on 14 May 2024, commits A$22.7bn over 10 years to position Australia as a preferred supplier in the global clean-energy and critical-minerals supply chain. The two flagship production tax incentives are: (1) the Critical Minerals Production Tax Incentive (10% of eligible processing and refining costs for 31 critical minerals) and (2) the Hydrogen Production Tax Incentive (A$2 per kg of eligible renewable or low-emissions hydrogen, 2027-2040). A National Interest Framework administered by DISR determines which investments qualify. The framework act established a Future Made in Australia Coordinator and consolidated existing industrial-support vehicles (NAIF, EFA) under a single policy lens.

Act No. 9 of 2025, given Royal Assent on 14 February 2025, enacts the two production tax credits announced in the May 2024 Future Made in Australia package. Schedule 1 creates the Hydrogen Production Tax Incentive (HPTI): A$2/kg refundable tax offset for eligible renewable hydrogen produced with emissions intensity below 0.6 kgCO2e/kg H2. Schedule 2 creates the Critical Minerals Production Tax Incentive (CMPTI): a refundable 10% tax offset on eligible processing and refining expenditure for the 31 minerals on Australia's Critical Minerals List. Both offsets apply to production occurring between 1 July 2027 and 30 June 2040, capped at 10 years per project, administered by the ATO via new Divisions 419 (CMPTI) and 421 (HPTI) of the Income Tax Assessment Act 1997.

Released 9 May 2024 by the Minister for Resources Madeleine King through the Department of Industry, Science and Resources, the Future Gas Strategy is Australia's first national-level gas-policy framework, explicitly committing gas to a continuing supply role "through to 2050 and beyond" in support of the net-zero transition. The Strategy is built on six guiding principles -- gas must remain affordable for Australian users during transition, reliable supply requires new sources, emissions from production and use must be reduced, gas exports remain critical to global decarbonisation pathways, competitive gas markets are essential, and collaboration is needed to deliver these objectives -- and is paired with a separate Future Gas Strategy Analytical Report. It sets the Commonwealth policy posture for all subsequent LNG-export approval decisions (Northwest Shelf, Beetaloo, Scarborough), east-coast domestic-supply policy (including the AEMO gas-statement-of- opportunities forecast and any future domestic-reservation intervention), and Australia's international posture on long-term LNG offtake renewals with Japan, Korea and Taiwan.

The US Bureau of Industry and Security (BIS) final rule (89 FR 41706; FR Doc 2024-10485) added 37 entities under 37 entries to the Entity List, all listed under the destination of the People's Republic of China. BIS designated these parties for one or more of three rationales: (i) shipping US-controlled items to Russia in violation of EAR controls, (ii) attempting to acquire US-origin items to support China's military modernisation or quantum-technology capabilities, and (iii) ties to the PRC high-altitude balloon that overflew the United States in late January–early February 2023. The designations span PRC technology companies (predominantly quantum-computing firms), manufacturing companies, and research institutes. License requirement is "all items subject to the EAR" with a policy of presumption of denial and no license exceptions available. The rule is effective 2024-05-09, with publication in the Federal Register on 2024-05-14.

The Bureau of Industry and Security (BIS) issued a final rule (FR Doc 2024-08622; Docket 240417-0112; 89 FR 30119) amending the Export Administration Regulations (EAR) to expand the product scope of two Foreign Direct Product (FDP) rules — the Iran FDP rule and the Russia/Belarus/Temporarily occupied Crimea region of Ukraine FDP rule in 15 CFR 734.9(f) — to cover the entirety of the Common High Priority List (CHPL), an HTS-6 list developed jointly with the EU, Japan and the UK that identifies items used in Russian weapons production. The CHPL scope adds basic commercial-grade microelectronics (integrated circuits, RF transceiver modules), test/manufacturing equipment for electronic components, and CNC machine tools to the perimeter, requiring a BIS licence when these foreign-produced items are exported, reexported or transferred to Iran, Russia, Belarus or occupied Crimea. The rule was issued in response to Iran's 13 April 2024 attack on Israel and Iran's ongoing military support for the Russian war in Ukraine; it became effective 18 April 2024 (Federal Register publication 22 April 2024) with a transit grace period for in-flight shipments until 20 May 2024.

Moldova's Cabinet of Ministers approved Government Decision HG 280/2024 on 17 April 2024, adopting the National Industrial Development Programme 2024-2028 (Programul Național de Dezvoltare Industrială pentru 2024-2028). The programme sets a manufacturing GDP-share target from 8.2% (2023 baseline) to 11.5% by 2028 and at least 25% industrial-production volume growth, with priority given to six sectors: electronics, chemical-pharmaceutical, auto-components, textiles, construction materials, and food industry. It operationalises Moldova's EU-candidacy industrial-alignment commitments under the EU Reform and Growth Facility (€1.9bn 2024-2027 envelope) and the national development strategy European Moldova 2030. A Regional State Aid Scheme for Investments — launched January 2025 under HG 280/2024 — provides grants covering up to 60% (large/medium enterprises) or 75% (small enterprises) of qualifying investments above a MDL 10 million threshold, combined with a 75% income-tax exemption, targeting approximately 150 enterprises with ~€100 million in total state aid through 2034.

The US Bureau of Industry and Security (BIS) final rule (89 FR 25503; FR Doc 2024-07760) added 11 entries to the Entity List under China (6), Russia (3), and the United Arab Emirates (2), effective 2024-04-11. The primary rationale for the Russia and UAE tranches — and at least one China entity (Shenzhen Jiasibo Technology) — is procurement of US-controlled dual-use aerospace and UAV components for Iran's Shahed- series UAV programme via the Iran Aircraft Manufacturing Industrial Company (HESA); those drones have been used against oil tankers in the Middle East and deployed by Russia in Ukraine. The remaining five China entities were designated for acquiring US-origin items to support China's military modernisation. The rule also adds one alias to the existing entry for Shanghai Biren Intelligent Technology Co., Ltd. This action was the first Entity List final rule published after BIS implemented the 50 Percent Rule for controlling foreign subsidiaries of listed entities.

On 9 April 2024, Türkiye's Ministry of Trade restricted exports of 1,019 tariff lines across 54 product groups to Israel — including cement, marble, sulphur, aluminium wire, ceramics, varnishes and mineral fertilisers — in response to Israel's conduct of the Gaza war and its refusal of a Turkish request to participate in aid airdrops. The government stated the restriction would remain in force until Israel declared an immediate ceasefire and allowed unimpeded humanitarian aid into Gaza. The measure was superseded three weeks later, on 2 May 2024, when the Ministry halted all exports, imports and transit trade with Israel across every product category.

The European Commission approved on 8 April 2024 a €267 million Slovak State aid measure (SA.103740) under Article 107(3)(a) TFEU and the 2022 Regional Aid Guidelines to support Volvo Cars Slovakia s.r.o.'s construction of a new battery-electric-vehicle manufacturing plant in the Valaliky Strategic Industrial Park near Košice in eastern Slovakia. The facility is designed for up to 250,000 BEVs per year against a total private investment of approximately €1.2 billion, creating around 3,300 direct jobs in one of Slovakia's least-developed NUTS-2 regions. The aid takes the form of a direct cash grant and marks the single largest project-level EU state-aid notification by Slovakia in over a decade, anchoring the country's pivot from ICE-vehicle sub-assembly toward full BEV manufacturing.

On April 4, 2024, the Bureau of Industry and Security published an interim final rule (89 FR 23876) providing corrections, clarifications, and targeted revisions to the October 2023 advanced-computing and semiconductor manufacturing equipment rules. The most substantive change splits the former License Exception NAC (Notified Advanced Computing) into two separate exceptions: NAC (retaining the 25-day prior notification requirement) and a new ACA (Advanced Computing Authorized) exception that permits certain shipments without advance notification. The rule also adds ECCN 4A090.b covering computers and assemblies containing advanced ICs, restores national-security controls to several ECCNs, and addresses various technical drafting errors from the October 2023 rules.

The Dutch Council of Ministers on 28 March 2024 approved Project Beethoven, a EUR 2.51 billion public-investment package for the Brainport-Eindhoven semiconductor ecosystem. The package combines EUR 1.28 billion from the Nationaal Groeifonds, EUR 450 million in additional central- government education/talent spending, and EUR 780 million in regional co-funding from the Province of Noord-Brabant and the Municipality of Eindhoven. Investment pillars cover infrastructure (mobility, road capacity on A2/A58/A67, energy-grid reinforcement), a national semiconductor-talent plan targeting 2,000 master's-programme graduates per year by 2030, 16,000+ new housing units in the Brainport region, and quality-of-life improvements. The Government stated it expects these measures to lead ASML to continue to invest and maintain its statutory and tax domicile in the Netherlands.

The Aizsardzības industrijas likums (Defence Industry Law), adopted by the Saeima on 27 March 2024 and published in Latvijas Vēstnesis No. 70 on 10 April 2024, is Latvia's first standalone statute codifying state-support instruments for domestically registered defence-industrial-base firms. The law establishes a strategic-partnership agreement framework between the Ministry of Defence and Latvian-registered defence-tech manufacturers (including the Latvian drone-tech cluster — Atlas Aerospace, UAV Factory, Edge Autonomy Latvia), defines continuity-of-operations and supply-security obligations for strategic-partner firms, and provides a procurement-preference channel for Latvian-registered defence suppliers in MoD and State Defence Logistics and Procurement Centre contracting. The law also streamlines export-licence processing for qualified Latvian strategic- goods exporters and aligns state-support measures with EU Treaty Article 346 defence-exemption and EU European Defence Fund / EDIRPA co-financing rules.

Portugal's Council of Ministers adopted Resolution n.º 49/2024 on 26 March 2024, establishing the Sistema de Incentivos ao Investimento em Setores Estratégicos (Strategic Sectors Investment Incentive System) — a dedicated state-aid window anchored to the EU Temporary Crisis and Transition Framework (TCTF, Commission Communication C(2023)1711) and routed through Portugal's Regime Contratual de Investimento (RCI, Decree-Law 191/2014). The scheme covers green-transition equipment manufacturing (batteries, solar panels, wind turbines, heat pumps, electrolysers, CCUS) and upstream critical raw materials (lithium, cobalt, nickel, manganese, copper, rare earths, graphite, anode/cathode precursor chemistries), offering cumulative grant equivalents up to 35% of eligible investment for large enterprises and 45–55% for SMEs, Cohesion-Region operations, or strategic-priority categories. A hard 31 December 2025 approval-decision sunset tied to TCTF expiry drove a Q3–Q4 2025 project-decision rush. The scheme served as the primary domestic state-aid instrument underpinning Portugal's four EU CRMA-designated strategic projects (Savannah Barroso lithium, Lusorecursos Aguas Frias lithium, Lifthium Estarreja LiCO3/LiOH refinery, Bondalti Estarreja lithium-derivatives integration).

On 21 March 2024, Costa Rica's Ministerio de Comercio Exterior (COMEX) launched the Hoja de Ruta para el Fortalecimiento del Ecosistema de Semiconductores — the first national semiconductor roadmap published by any Latin American country — jointly presented with US Secretary of Commerce Gina Raimondo in the context of the CHIPS Act §103 ITSI Fund partnership. President Rodrigo Chaves Robles simultaneously signed an executive decree declaring the semiconductor industry and related industries of "interés público" (public interest) and directing COMEX to lead implementation. The roadmap is organised around four pillars: Talent (Human Talent Training Incentive programme, US$6M initial budget), Incentives (OECD BEPS Pillar Two-aligned fiscal/financial R&D incentives, Free Trade Zone regime strengthening under Law 7210), Investment Attraction (CINDE-led FDI promotion targeting ATP, advanced PCB, and design-house segments), and Regulatory Improvement (customs facilitation, IP reform, export-control alignment). Costa Rica is one of seven declared ITSI-fund partner economies and hosts Intel's largest non-US assembly and test site since 1997, alongside Applied Materials, ON Semiconductor, Coherent, MaxLinear, and Boston Scientific.

On 21 March 2024, President William Ruto formally launched Kenya's Fourth Medium Term Plan 2023-2027 (MTP IV) at State House Nairobi, the final five-year implementation plan under the Kenya Vision 2030 blueprint. MTP IV is the operational vehicle for the Bottom-Up Economic Transformation Agenda (BETA), the Ruto administration's foundational industrial-policy and value-chain framework. The plan organises Kenya's industrial-policy push around five core BETA pillars and nine value chains: agro-processing (incl. edible-oil crops, leather, dairy, tea), textiles and apparel, housing and settlement, healthcare and pharmaceuticals, digital superhighway and creative economy, manufacturing (incl. automotive and EV motorcycle and vehicle assembly), MSME and cooperative sector strengthening, and blue-economy/natural-resource value addition. Implementation is anchored in County Aggregation and Industrial Parks (CAIPs) across all 47 counties and in the County Integrated Development Plans (CIDPs). MTP IV is the umbrella framework shaping Kenya's domestic industrial-incentive architecture, foreign-investment priorities, and AfCFTA positioning over 2023-2027. Subsequent sectoral instruments — including the Mining Royalty Collection and Management Regulations 2024 — operate within this policy perimeter. This is the first KE foundational industrial-policy filing in the register.

Decreto-legge n. 19 of 2 March 2024 ("PNRR-quater"), converted into Law n. 56 of 29 April 2024, delivers Italy's fourth package of NGEU/PNRR implementation measures. Article 38 establishes the Transizione 5.0 plan, a EUR 6.3 billion tax-credit programme financed from ECOFIN-derived RepowerEU allocations targeting combined digital and energy-transition capital expenditure by Italian firms in fiscal years 2024–2025. The plan requires a certified minimum energy-consumption reduction (≥3% at production-structure level or ≥5% at process level) and relies on the GSE (Gestore Servizi Energetici) for ex-ante and ex-post energy-savings audits, making this the first Italian industrial-policy instrument to hard-wire measurable energy efficiency into capex-incentive eligibility.

Belgium's Loi du 29 février 2024 (published in the Moniteur Belge on 27 May 2024, entering into force 1 June 2026) establishes the first comprehensive federal authorisation and traceability regime for pharmaceutical raw materials used by pharmacists in extemporaneous and magistral preparations. Manufacturers, importers, and distributors of covered materials must obtain AFMPS authorisation and comply with Good Manufacturing Practice and Good Distribution Practice standards; pharmacists may only source materials from authorised actors. The statute was enacted during Belgium's EU Council Presidency (H1 2024) and directly parallels the EU Critical Medicines Alliance architecture launched in Leuven on 24 April 2024, positioning Belgium as the first EU member state to operationalise a national supply-chain control layer for pharmaceutical compounding raw materials ahead of the forthcoming EU Critical Medicines Act.

On 26 February 2024, President Ferdinand Marcos Jr. signed Republic Act No. 11981 ("Tatak Pinoy Act"), the first standalone national industrial policy law in Philippine history. It mandates the formulation, funding, implementation, monitoring, and evaluation of a multi-year Tatak Pinoy Strategy organised around five pillars (human resources, infrastructure, technology and innovation, investments, sound financial management) and establishes the Tatak Pinoy Council, chaired by the DTI Secretary with NEDA and Finance secretaries as vice-chairs. On 24 October 2025, Marcos issued Memorandum Circular No. 104 approving the implementing Tatak Pinoy Strategy and directing all national agencies, GOCCs, and LGUs to prioritise local products in procurement, with local suppliers eligible for award if their bids are within 25% of the lowest foreign offer.

METI committed up to 732 billion yen (~US$4.86 billion) in direct subsidies for Japan Advanced Semiconductor Manufacturing K.K. (JASM) to build a second wafer fab adjacent to the first JASM facility in Kikuyo, Kumamoto Prefecture. Confirmed by METI Minister Ken Saito at the Fab 1 opening ceremony on 24 February 2024, two weeks after TSMC, Sony Semiconductor Solutions, Denso, and Toyota jointly announced the Fab 2 expansion (6 February 2024). Fab 2 will produce 6/7nm and 40nm logic for automotive, industrial, consumer, and HPC end-markets, with combined Fab 1 + Fab 2 capacity exceeding 100,000 12-inch wafers per month. Construction targets year-end 2024; operations target year-end 2027. Combined with the 476 billion yen Fab 1 grant, total JASM subsidies reach ~1.208 trillion yen, the largest single direct manufacturing subsidy in Japanese history. METI conditions require >=10 years of post-startup production and >=50% Japanese-domestic procurement of silicon wafers, materials, and components.

Canada made SOR/2024-32, Regulations Amending the Special Economic Measures (Russia) Regulations, registered and effective 2024-02-21 on the second anniversary of Russia's invasion of Ukraine. The regulations add 163 persons to Schedule 1 — 10 individuals and 153 entities, predominantly Russian organizations tied to military-industrial production, logistics, insurance and oil-sector support — triggering Canadian dealing/asset bans. A parallel amendment to Schedule 7 adds five new goods categories under the Harmonized System (explosives and pyrotechnics; data-processing units and components; ball and roller bearings; semiconductor manufacturing equipment; optical and navigational instruments), banning their export to Russia or Russian persons.

On 16 February 2024 the European Commission opened case FSP.100147, the first-ever in-depth Phase II investigation under the EU Foreign Subsidies Regulation (FSR, Regulation 2022/2560), to examine whether Chinese state-owned CRRC Qingdao Sifang Locomotive Co. Ltd. received foreign subsidies enabling it to submit an unduly advantageous tender for a EUR 614 million Bulgarian Ministry of Transport contract covering 20 zero-emission electric push-pull trains and 15 years of maintenance. The Commission identified approximately EUR 1.745 billion in total foreign financial contributions to CRRC — roughly five times the bid value. CRRC withdrew its tender on 26 March 2024 before the Commission could issue a final decision; the Commission closed the investigation following the withdrawal.