LNB News 29/01/2025
Document Information
Issue Date: 29 January 2025
Published Date: 29 January 2025
Jurisdiction(s): European Union
The European Commission has introduced the competitiveness compass, a strategic framework aimed at guiding the Commission's work for the next five years, which lists priority actions to enhance Europe's competitiveness. This is the first major initiative of the Commission in this mandate. This competitiveness compass is building on the recommendations of the Draghi report on ‘The future of European competitiveness’, published in September 2024 (see: LNB News 10/09/2024 44). The initiative aspires to position Europe as a leader in the development, manufacturing, and marketing of future technologies, services, and clean products, while also achieving climate neutrality. Despite lagging behind other major economies in productivity growth over the past two decades, the EU possesses the necessary resources, including a skilled workforce, capital, savings, and a unique social infrastructure, to reverse this trend. However, urgent action is required to address persistent barriers and structural weaknesses. Full details are available in the competitive compass document and more details can be found below.
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