Industrial Policy

The European industry is a world leader in many sectors and employs millions of people. At the same time, it is facing challenges in a rapidly changing business and technology environment, within a highly competitive global context. For the above reasons, the European Commission presented on 10 March 2020, the New Industrial Strategy for Europe, which aims to address the two biggest challenges, namely, the transition of industry to climate neutrality with zero emissions by the year 2050 and on the other hand, its digital transformation. The timely implementation of the new strategy will contribute to the development, through investment and innovation, of strong and sustainable European industries and will reduce the dependence on third countries for raw materials and technologies, strengthening Europe's strategic autonomy. The restrictive measures and the slowdown of the economy due to the COVID-19 pandemic have had an impact on EU industries and for this reason the European Commission presented on 5 May 2021 the update of the New Industrial Strategy of 2020, in order to take into account the needs created in every industrial ecosystem due to the pandemic and to boost the dual transition of the economy. The updated Strategy focuses mainly on strengthening the resilience of the Single Market, understanding and tackling Europe's dependence on third countries in strategic areas and accelerating the green and digital transition of industrial ecosystems.

Our country considers that achieving the dual climate and digital transition is both a challenge and an opportunity. Challenge due to the size and urgency of the transition to a more sustainable development model and opportunity, due to the introduction of new technologies and investments that will offer growth and new jobs. However, it must be ensured that the opportunities concern everyone and that no member state or region is left behind, so that the competitiveness gap within the European Union is not widened. Particular care must be taken for the small and medium-sized enterprises, as well as for areas that will face problems during the transition.

For more info:
https://ec.europa.eu/growth/industry/policy_en