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A renewed EU industrial policy strategy

On the 9th of November, the Presidency of the Council of the European Union published a revised proposal for a renewed EU industrial policy strategy.

In particular, the Council would recognise the need for concrete actions to enable European industry, especially SMEs,  to tackle present and future challenges and to maximise the benefits of digitalisation, investments in research and development, uptake of innovation and transformation to sustainable technologies and for ensuring that industry is equipped with the right set of skills.

It also invites the European Commission to assess how the programmes and instruments within the next multiannual financial framework can support the implementation of the aforementioned aspects, and underlines the importance of a clear and predictable regulatory environment, which is conducive to investment and innovation, for all sectors of the economy, including those facing economic change, and for stimulating growth in new sectors.

It recommends to:

  • further develop a comprehensive EU industrial strategy with a focus on 2030 and beyond, including medium to long-term strategic objectives for industry and to be accompanied by an action plan with concrete measures;
  • provide an assessment of the impact of mainstreaming industrial policy into the EU strategic initiatives taken since the beginning of 2015 and, on the basis of this, propose how mainstreaming industrial competitiveness can be made more effective.

 

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