EU industrial strategy: "Now the real work will begin"

On March 10 2020, the European Commission presented the industrial strategy that Ursula von der Leyen promised in July 2019. This will lay out the course for how European industry and business will meet climate and digital challenges in the coming five years. Success in this work will require a high degree of transparency and an inclusive approach. The direction is clear - the EU must build on Europe's principal strength, its internal market. However, in order for this to work, existing barriers must be demolished, and any new obstacles avoided. European companies must be able to compete on equal terms. The regulations in a number of areas need to be reviewed and adapted to the current time and reality.

The European Commission's strategy includes a number of elements:

• An action plan for knowledge-based assets (intellectual property)
• A review of both competition rules (concentration and market definition) and state aid rules (guidelines for different areas)
• Notice that instruments will be developed to deal with competition distortions by state-sponsored companies from third countries. The procurement market is designated a specific domain
• Promote the transition to a fossil-free industry, where the circular economy becomes central
• A plan to promote public-private funding for supporting projects aimed at green transition.

– Now the real work will begin, says Göran Grén, Director Head of Business Policy and Law Division at the Confederation of Swedish Enterprise. The strategy presented today is simply the starting point, and it is only when we have more concrete proposals that we will be able to see whether Europe is heading in the right direction. Nevertheless, this represents a good start and the strategy maintains a balanced tone, one where protectionism and the building of barriers are notable by their absence.

In addition to the industrial strategy, the strategy for SME companies was also presented along with the action plan for the internal market. These are additional components aimed at building a strong, innovative and competitive Europe.

The EU Commission's industrial strategy