Reindustrialisation of Europe – opportunity for businesses, employees and citizens in the context of the cost-of-living crisis

The EU Youth Test at the EESC was applied to this opinion. Baltic Sea Region Youth Forum was chosen by a group of interested youth organisations to represent all of them during the opinion-making process.

The EESC:

1. welcomes the Commission Competitiveness Compass initiative, focused on improving the competitiveness of the EU economy to close the gap with the USA and Asia. Its development must include clear performance metrics to allow EU institutions and stakeholders to monitor the achievement of every task included in the Compass;
2. wants the Commission to guarantee that the Action Plan on Affordable Energy will secure the electricity supply and ensure a stable, competitive and predictable price;
3. emphasises that open strategic autonomy must be at the heart of the reindustrialisation process, securing access to raw materials, diversifying sources and making the EU economy more resilient. To encourage companies to nearshore their production in the EU, the EESC recommends adopting an industrial policy based on a value chain approach;
4. highlights that the EU legislators must use the upcoming Industrial Decarbonisation Accelerator Act to ensure the sustainability of alternative and circular economy business models by offering accelerated permitting, financial support and policy backing to those businesses dedicated to the transition. The Circular Economy Act proposal should send a clear message of support to circular businesses, reassuring investors that the EU is the ideal environment for developing clean solutions;
5. points out that reindustrialisation requires a dedicated innovation programme with specific targets that include both existing industries and new developments and are based on social dialogue;
6. suggests that the EU promote public-private partnership programmes to boost industrial investment, with a dedicated section to promote youth entrepreneurship in the manufacturing sector;
7. asks that the upcoming Commission proposal on the Union of Skills provides for the direct recognition and validation of workers’ skills across the EU once they have been recognised by the public authorities of one Member State, reducing bureaucratic burdens. The Commission must launch an EU-wide programme to promote industrial and fairly paid apprenticeships among younger generations, supporting a more resilient workforce.