European Commission publishes Industrial Strategy

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Today, the European Commission published its Industrial Strategy for a globally competitive, green and digital Europe. The aim of the Strategy is to help European industry lead the transition towards  climate neutrality and digital leadership. It also aims to strengthen Europe’s competitiveness and its strategic autonomy.

The Commission published four key documents:

This package of initiatives introduces a range of actions to support the European industry, including big and small companies, innovative start-ups, research centers, service providers, suppliers and social partners.

The Industrial Strategy

The Industrial Strategy has three key priorities:

  1. Maintain European industry’s global competitiveness and a level playing field, at home and globally
  2. Make Europe climate-neutral by 2050
  3. Shape Europe’s digital future

The Strategy proposes a set of future actions that will drive European industrial transformation, such as developing an Intellectual Property Action Plan, a review of EU competition rules, measures to modernize and decarbonize energy-intensive industries and support sustainable and smart mobility industries etc.

A new SME Strategy

The Strategy for small and medium-sized enterprises (SMEs) was created to help European SMEs do business across the Union and beyond, access financing and help lead the way on the digital and green transitions. It also aims to reduce red tape.

As part of this Strategy the Commission will upgrade the European Enterprise Network with dedicated Sustainability Advisors. It also wants to expand Digital Innovation Hubs across every region in Europe to empower SMEs to integrate digital innovations. Finally, the Commission aims to open up possibilities for volunteering and training on digital technologies.

The Commission also wants to remove regulatory and practical obstacles to doing business or scaling up. This means it will step up its efforts to ensure prompt payment, through a new virtual Observatory as well as through alternative dispute resolution. Furthermore, the Commission will support an SME Initial Public Offerings (IPOs) Fund under the InvestEU SME window. It also aims to empower female entrepreneurship and make Europe the best place to start and grow a business.

 A single market that delivers for European businesses and consumers

The Commission also published the Report on barriers to the single market which identifies a broad range of obstacles in the single market from the perspective of European businesses and consumers. It defines the main causes of these barriers, such as restrictive and complex national rules, limited administrative capacities, imperfect transposition of EU rules and their inadequate enforcement.

To help overcome these barriers, the Commission adopted an Action Plan for Better Implementation and Enforcement of single market rules. The aim of this Action Plan is to address obstacles that arise from violations of EU law. The Action Plan includes launching of a Joint Task Force of the Commission and Member States to strengthen cooperation on enforcement of single market rules.

To read the full press release please click here.

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