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In the debate in Ljubljana on the need for effective action based on the EU’s competitiveness compass

by AI | 31.Jan 2025 | Europe in brief AI

Representatives of Slovenian politics, economy, science, and the EIB agreed at a round table on the need for effective action based on the EU competitiveness compass presented this week.

The President of the European Commission, Ursula von der Leyen, speaks at the presentation of the Competitiveness Compass. Photo: Thierry Monasse/STA

Ljubljana – In the EU, it will be crucial to quickly and effectively implement actual measures based on the competitiveness compass presented this week, the European Commission’s roadmap for action aimed at strengthening the economic competitiveness of the union, was one of the messages of the discussion on this topic organized by the European Parliament.

Slovenian MEP Matej Tonin (EPP/NSi), also a member of the European Parliament’s Committee on Industry, Research and Energy, emphasized that the forecasts are nice and shiny, but for now, they are only on paper. It will be crucial to quickly and effectively bring this into reality in the coming years, he said.

The deputy president for strategic projects at the Zasavian technology companies Dewesoft and openDAQ Sonja Šmuc stated that the compass is a very good analysis of the situation and the reasons for Europe’s lag behind other major global players. However, she noted that the commission under the same leadership has been in the saddle for the past five years, during which the lag has become more pronounced.

The director of the Chemical Institute Gregor Anderluh assessed that the compass is a useful document that very well outlines the necessary activities, but he would like to see more proactivity and faster action.

The head of the representation of the European Investment Bank group in Slovenia Simon Savšek meanwhile underlined that the situation in the EU is not as extremely bad as it sometimes seems and is talked about. He mentioned that in the union, which accounts for about six percent of the world’s population, research and development expenditures in the EU represent 20 percent of all global expenditures for this purpose. Similarly, 20 percent of high-tech patents originate from the union.

The European Commission presented the EU’s economic competitiveness compass this week, on the basis of which it will present a whole range of more concrete strategies and legislative proposals in the coming months. The compass is divided into three pillars: a plan for decarbonization and economic competitiveness, bridging the innovation gap with the USA and China, and increasing economic security. (January 31)