Europe’s competitiveness and the Competitiveness Compass to boost EU’s sustainable prosperity
To safeguard and stimulate the competitiveness of Europe, the Commission has presented the Competitiveness Compass that will provide the direction of the EU’s work on competitiveness during the period 2025-2029. Building on the recommendations of Mario Draghi’s report on the future of European competitiveness, it provides a plan built on concrete actions:
- innovation,
- decarbonisation and competitiveness, and
- increased security and resilience.
It also highlights the establishment of a European Savings and Investment Union to finance competitiveness, promoting skills and quality jobs. To achieve this, in addition to public funding, private capital is needed. InvestEU supports higher-risk and scale-up investments in key economic sectors in order to enable investments in innovation and decarbonisation to boost Europe’s competitiveness and resilience.