EU told to create goals to revamp manufacturing

The European Policy Centre has said that EU institutions and businesses need to set specific goals in order to strengthen the economy following the financial crisis.

In a paper published on 12 November, the Brussels-based think tank calls on the EU to urgently develop an industrial policy that would prevent innovative companies from leaving the continent. The EPC says that so far, EU officials have failed to agreed on specific goals for industrial growth, despite increasing calls from national governments and industry leaders to boost manufacturing and hardware industry. 

Improving cooperation between member states, industry and the different Directorates-General of the European Commission is also necessary, the report states. The EU should work to promote a more investment-friendly environment for companies to encourage them to spend money on innovation, while industry in Europe must become more willing to embrace changes, the EPC said.