By the EESC Employers' Group

The European Commission unveiled its much-awaited Industrial strategy review this month. But, more than strategies, what companies need is swift action to help Europe regain its competitiveness and growth.

At the moment, Europe lags far behind the US and China when it comes to economic growth. And even though the European Commission's recent 2021 Spring Forecast seems more optimistic, employers are convinced that economic activity will not bounce back overnight to pre-crisis levels.

There is no secret to a return to growth and competitiveness. Recovery plans must address the gaps that the pandemic crisis has exposed. The over-reliance on certain supply chains must be addressed. We need more diversification to maintain and build on new competitiveness.

Furthermore, we need a more coherent innovation ecosystem that allows SMEs to participate and that improves access for regions that are less well-placed to bounce back from the severe economic consequences of the pandemic. Alongside innovation, industry needs cheap energy, through the development of new models for the electricity market and through the promotion of the energy transition to cleaner fuel.

Last but not least, people and businesses must take ownership of this transformational agenda for recovery. The process will gain speed only if people are willing to engage in the transition. We have no time to lose and no strategy will succeed unless it has society behind it.

So, now that we have the strategy, we need to recapture the sense of urgency to deliver change, especially if we want to achieve the highest growth and competitiveness rankings. This will be an uphill battle, but it is one that we must win.

Now, as the EESC is drawing up its opinion on Updating the new industrial strategy, led by rapporteur Sandra Parthie, we are confident that this work will provide valuable arguments to influence both the Parliament and the Council. That will allow us to move from strategy to action. (dv)