Green-Deal-Industrial-Plan

"The Green Deal Industrial Plan is the EU's urgently needed initiative for further developing its industrial policy strategy. Crises both past and present have underlined Europe's flaws as an industrial hub.
Looking at the current competition among hubs around the world, one thing is clear: Without an ambitious programme for ensuring international competitiveness, we are at risk of losing our connection to important sectors around the world – with negative consequences for wealth, employment, and the climate.

The key words must be 'simpler and faster'. The Green Deal Industrial Plan names two core issues: the required Free Trade Agreement and simplification of the IPCEI projects. It also rightly stipulates regulatory processes for creating production capacities for key technologies and simplifying the testing thereof. Other announced measures, such as the expansion of hydrogen infrastructure, strengthening internal feedstock supplies, and evaluation of the need to adjust aid laws, are also welcome.

This equates to six steps in the right direction, and these are essential for the future of industry in Europe. Further ascertainment of the objectives, and swift and unbureaucratic implementation, are now paramount. This necessitates a more impactful industrial policy that relies on market economy instruments and is open to different technologies.

With its industrial strategy, the EU should focus less on deglobalisation and more on reglobalisation, and take a steadfast approach to international trade order. Furthermore, the EU must make progress in its conventional, long-term duties with regard to regulatory policy - such as the advancement of the as yet outstanding finalisation of the EU domestic market and the general dismantling of bureaucracy."