BusinessEurope welcomes the release of the EU Competitiveness Compass, as it is a clear signal that the EU is committed to strengthening Europe’s economy and the companies driving it forward.
BusinessEurope Director General Markus J. Beyrer said:
“Bringing a ship to its destination requires clear directions, and today’s Competitiveness Compass provides these coordinates. The Compass must urgently be followed by concrete and impactful actions which deliver meaningful changes for companies in their daily operations.
These actions have to prioritise reducing regulatory burdens and cutting red tape in order to deliver on the promise to make it easier to do business in Europe. The EU must also introduce strong measures to mitigate the energy cost competitiveness gap, accelerate the market deployment of innovation and ensure faster permitting procedures, enabling all industries to transform at speed.
In today’s geopolitical climate, implementing an ambitious trade and investment diversification strategy is equally critical. Moreover, businesses’ acute skills and labour shortages must be urgently addressed.
The Competitiveness Compass needs to be followed rapidly by consistent actions to deliver on its objective.”
