In a draft paper seen by Reuters, the European Commission plans to prioritize AI, biotech, and affordable clean energy to enhance global competitiveness and keep pace with the United States and China. Members like France are urging for simplified business regulations, amidst challenges posed by the new administration.
The draft proposes a set of 29 measures known as the Competitiveness Compass, aimed at boosting innovation and decarbonizing manufacturing over the next two years. It emphasizes the importance of sectors like AI, advanced materials, biotech, clean energy, robotics, and space for future economic growth.
Aligned with previous recommendations, the Commission plans to launch a Clean Industrial Deal and streamline regulations to support companies. Efforts will focus on chemical regulations, AI promotion, and facilitating the growth of innovative startups.
Echoing France's push for regulatory simplification at the EU level, the draft outlines similar measures to alleviate the burden on businesses, aiming to align with the pace of growth seen in the U.S. and China. French Finance Minister Eric Lombard emphasizes the need for swift action to remove obstacles hindering European companies' development.