BRUSSELS (BELGIUM) (ITALPRESS) – The European Commission has unveiled the Competitiveness Compass, the first major initiative in this mandate that provides a clear, strategic framework to guide the Commission’s work.
It charts a course for Europe to become the place where the clean technologies, services and products of the future are invented, made and brought to market, while becoming the first continent to achieve climate neutrality. For European Commission President Ursula von der Leyen, “Europe has everything it needs to succeed in the race to the top. But at the same time, we need to correct our weaknesses to regain competitiveness. The Competitiveness Compass turns the excellent recommendations of the Draghi report into a roadmap. So now we have a plan. We have the political will. What matters is speed and unity. The world is not waiting for us. All member states agree on this. So let’s turn this consensus into action.”
Three main areas for action: innovation, decarbonization, and security, with a leading approach and selection of measures to translate each of these imperatives into reality. Closing the innovation gap: the EU must reignite its innovation engine. Create a habitat for young innovative start-ups, foster industrial leadership in high-growth sectors based on deep technologies, and promote technology diffusion between established companies and SMEs. In this regard, the Commission will propose initiatives
“AI Gigafactories” and “Apply AI” to drive the development and industrial adoption of AI in key sectors. It will present action plans for advanced materials, quantum, biotech, robotics and space technologies. A dedicated EU strategy for start-ups and scale-ups will address barriers that prevent new companies from emerging and growing. A proposal for a 28th legal regime will simplify applicable rules, including relevant aspects of company, insolvency, labor and tax law, and reduce the costs of bankruptcy. This will enable innovative companies to benefit from a single set of rules wherever they invest and operate in the single market.
A joint roadmap for decarbonization and competitiveness: Compass identifies high and volatile energy prices as a key challenge and defines areas for action to facilitate access to clean and affordable energy.
The forthcoming Clean Industrial Deal will set out a competitiveness-based approach to decarbonization aimed at ensuring that the EU is an attractive location for manufacturing, including energy-intensive industries, and promoting clean technologies and new circular business models. An Affordable Energy Action Plan will help lower energy prices and costs, while an Industrial Decarbonization Accelerator Act will extend accelerated permitting to sectors in transition. In addition, Compass includes tailored action plans for energy-intensive sectors such as steel, metals, and chemicals, sectors that are the backbone of Europe’s manufacturing system but are the most vulnerable in this transition phase.
Reducing excessive dependence and increasing security: The EU’s ability to diversify and reduce dependence will depend on effective partnerships. The EU already has the largest and fastest growing network of trade agreements in the world, covering 76 countries that account for nearly half of EU trade. To continue to diversify and strengthen our supply chains, Compass refers to a new range of clean trade and investment partnerships to help ensure the supply of raw materials, clean energy, sustainable transport fuels and clean technologies from around the world. Within the internal market, revised public procurement rules will enable the introduction of a European preference in public procurement for critical sectors and technologies.
The three pillars are complemented by five horizontal enablers that are essential to support competitiveness in all sectors.
Simplification: this enabler aims to dramatically reduce the regulatory and administrative burden.
Lowering barriers to the Single Market: To improve its functioning in all sectors, a horizontal strategy for the Single Market will modernize the governance framework, removing intra-EU barriers and preventing the creation of new ones.
Financing competitiveness: The Commission will present a European Savings and Investment Union to create new savings and investment products, provide incentives for venture capital, and ensure that investments flow smoothly throughout the EU.
Promoting skills and quality jobs: To ensure a good match between skills and labor market demands, the Commission will present an initiative to build a Skills Union focused on investment, adult and lifelong learning, future-proofing skills creation, retaining skills, equitable mobility, attracting and integrating skilled talent from abroad, and recognizing different types of training to enable people to work across the Union.
Better EU and national policy coordination: The Commission will introduce a competitiveness coordination tool , which will work with member states to ensure EU and national implementation of shared EU policy objectives, identify cross-border projects of European interest, and pursue related reforms and investments.
(ITALPRESS).
-Photo: EU Commission press office.
EU, a “compass” for competitiveness and sustainable prosperity
