Ursula von der Leyen presents a compass for how the EU should strengthen its competitiveness. ”It is welcome that the Commission now has a roadmap for a targeted effort at a high pace. It will be needed,” says Anna Stellinger, Head of International and EU Affairs.
Von der Leyen’s compass includes promises of around 50 initiatives, ranging from major AI investments to increased support for cleaner industries and more trade agreements with the rest of the world. Where most of the content stems from a report by former ECB chief Mario Draghi, warning of the need for urgent investment.
A key goal is reducing bureaucracy and regulatory burdens for companies in the EU by 25–35%, with the first concrete proposal expected 26th February in the so called ”Omnibus proposal”. The first omnibus will cover climate regulations from the last mandate and is expected to expand to investments and a forthcoming omnibus for small and mid-caps.
Anna Stellinger, Head of International and EU Affairs, emphasizes that the EU is currently under historic pressure from the outside world.
”It is welcome that the EU is responding to this with a concrete competitiveness strategy,” she says, continuing:
”Europe’s strengths are the internal market and an expanding free trade policy. Innovation is also of high quality but needs to be complemented with better commercialization. The EU needs to contribute by simplifying regulations, reducing barriers, and increasing investments in research.”
”The compass is not perfect, and we see issues with formulations regarding, for example, production support. But the ambition to strengthen Europe’s competitiveness is the right one, and now it’s time to roll up our sleeves and deliver.”