The historic Belgian city of Leuven is known for its centuries-old university and as the headquarters of brewing giant Anheuser-Busch InBev NV. Less so as the location of a semiconductor research organization that is now the center of both political and industry attention. The Interuniversity Microelectronics Center (IMEC) may be Belgium's best-kept secret, but it's in global demand for its work on the future of computer chips, with applications in areas from genome sequencing to autonomous driving. It's also increasingly in the sights of governments as chips become political weapons in the U.S.-China tech conflict. Crippling industry shortages during the pandemic have meanwhile set off a scramble for access to advanced research as the U.S., China, Japan and Europe all seek greater self-reliance in semiconductor production.

Funding of nearly £38m is expected to be announced for a facility to make compound semiconductors - a new technology behind robotics, 5G and driverless cars. The 10 councils in the Cardiff Capital Region are set to develop the foundry in Newport, which could create about 2,000 high skilled jobs in five years. The funding follows £12m from the Welsh Government in November 2015. It could make a world-leading hub for the new technology. The factory would be owned by the councils and is projected to create £375m of private sector investment in the next five years.