Towards growth through a strong industrial basis

This is the main message of the communication of the European Commission adopted on 22 January « For a European Industrial Renaissance » in which it stressed that the competitiveness of the industry must be a political priority.

Industry accounts for over 80% of Europe’s exports, almost every fourth private sector job is in industry while each additional job in manufacturing creates 0.5-2 jobs in other sectors.

In its communication, the European Commission targets to put the part of the industrial sector to EU GDP at 20% in 2020, against 15,1% in 2013. 
Therefore, it is urging Member States to recognize the main importance of industry for creating jobs and growth and to mainstream industry-related competitiveness concerns across all policy areas. At the same time, The Commission calls on the Council and the Parliament to adopt proposals on energy, transport, space and digital communications networks as well as implement and enforce legislation to complete the internal market. 

Thus, the promotion of a more business friendly Europe through actions to simplify the legislative framework and improve the efficiency of public administration is highly encouraged. Investments in innovation sector too. 

In this text, the Commission underlines the importance of the financial instruments implemented to achieve a strong and competitive industrial basis, those instruments Horizon 2020 which provides grants up to 80 billion euro in 2014-2020, and Structural Funds  (regional funds at least 100 billion euro).

And to consider those priorities in order to support the European industry:

– Deploying and implementing European financing instruments, based on effective combinations of COSME, Horizon 2020, Structural Funds.

– Developing infrastructures through offering a regulatory framework favourable for entrepreneurship and innovation and improving the possibilities for training and mobility for citizens.

– Restoring normal lending to the real economy. The Commission notes that the European Investment Bank should play a more strategic role by targeting more lending to innovation and industrial projects.

– Facilitating the integration of EU firms and of SMEs in particular, in global markets to help them increase their competitiveness.