New impetus must be given to industry, manufacturing in particular. The Commission plan should be turned it into a "social compact for Europe for a new sustainable and competitive industry". Policies that promote the reshoring of production could help to achieve the proposed objectives. The Committee welcomes the fact that Eurofound has been tasked with assembling the set of data needed to understand the extent of the phenomenon of reshoring, and devising possible solutions.
EU integrated industrial policy should be focused on the global value chain and include research, innovation and development activities.
In particular, the EESC would make the following recommendations:
• build new industrial districts and facilities or revitalise existing ones to an up-to-date technological level that have reduced their activity as a result of the offshoring of manufacturing industries;
• update or renew production tools and processes to bring them in line with the new requirements of sustainable development policy;
• design policies to step up innovation and productivity so as to create a competitive advantage;
• identify new banking facilities to ease access to funding and speed up the necessary investments;
• promote measures to secure the participation of Europe's manufacturing industries at all stages of the value chain;
• establish a more balanced and stable taxation system to promote domestic consumption and attract foreign direct investment;
• ensure that reindustrialisation and reshoring are built into a sustainable European industrial policy that is focused on investment, technology, enterprise, education, innovation, research, energy prices, infrastructure, trade, etc.;
• organise special information centres focused on the offshoring and reshoring processes;
• provide for consistent, stable and secure regulation;
• secure the effective functioning of the internal market;
• ensure that environmental legislation is consistent with European industry's competitiveness and investment cycles;
• upgrade the relevant infrastructure;
• provide funding for companies' needs;
• support European energy policy;
• secure skilled employment in the European market;
• tackle the lack of capacity and skills in the manufacturing industry;
• establish a system for effectively managing human resources, promoting vocational activity and competences and innovativeness, and in particular making use of the creative potential of civil society bodies such as national and European associations of scientific and engineering personnel.