On 28th of November, the Competitiveness Council of Ministers of the European Union met in Brussels, Belgium to discuss the future of European competitiveness and the opportunities for better regulation in Europe.

The Ministry of the Economy underlines that in order to boost the global competitiveness of EU companies, it is important to focus on three key areas: strengthening security, fostering innovation and reducing administrative burdens. These priorities will allow companies to respond more effectively to market challenges, increasing efficiency and strengthening resilience in the international environment.

Security and stability – the backbone of business

Today’s geopolitical and economic challenges call for increased attention to security issues. The Ministry of Economy points out that companies need to be provided with a stable and predictable operating environment in order to operate and grow successfully. Security includes the protection of both physical and digital infrastructures, which is essential for ensuring stable supply chains and mitigating risks.

Government support for risk management measures also contributes to the competitiveness of companies, allowing them to plan their business strategies and long-term development objectives more effectively. Such stability is an essential prerequisite for attracting investment and building a more resilient business environment.

Innovation as a driver for growth

Another key aspect is fostering innovation. To remain competitive in the global market, EU companies need to support research and development (R&D) activities and the introduction of new technologies. Innovation is a key driver of growth, enabling products and services to adapt to changing market demands.

The Ministry of Economy calls on companies to actively use available resources to develop digital solutions, increase production efficiency and adopt sustainable technologies. This will enable the creation of higher value-added products and improve the competitiveness of companies on international markets.

Reducing bureaucracy – the key to business efficiency

Reducing administrative burdens is essential to allow businesses to focus on their core business and growth. Excessive bureaucracy often hinders the growth of businesses and increases operating costs. The Ministry of Economy underlines the need to simplify administrative procedures, promote digitalisation and ensure more effective communication between business and public administration.

Reducing administrative burdens will allow businesses to save time and resources, which can be channelled into developing new products and services and increasing export potential. This approach will foster a business environment in which strategic development objectives can be realized more quickly.

How to benefit from this?

If you would like to know about support programmes under development or already in force related to this policy vector, contact us. We will help you understand which programmes are compatible with your company’s development and strategic objectives. There are a variety of grant programmes and funding instruments currently open. We will find the best scenario for you in a consultation.