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European Industry: Growth and Recovery (Economic Crisis: Impacts (Loss of…
European Industry: Growth and Recovery
Economic Crisis: Impacts
Loss of 3mil industrial jobs
Industril production 10% lower
Consumer and business confidence low
Decline in manufacturing and its competitiveness
Main Issues
Lack of investment stifling innovation
Lack of Internal And Global Market Opportunities
Lack of access to finance
Lack of human capital particularly in STEM careers
Response: 4 Pillars of Reinforced Industrial Policy
Investment in Innovation:
to boost productivity, growth and job creation through 6 priority initiatives
advanced manufacturing technologies
Key enabling technologies
Bio-based economy (chemical product production)
Sustainable industry and construction in terms of energy efficiency
Clean vehicles: alternative fuels, electrics and hybrids
Smart grids investment
Market Conditions:
eliminate bottlenecks in internal market for goods and open up international markets
Improve surveillance
IP protection
Reform
Raw material access, use and recyclability
Entrepreneurship Action Plan
Access to Capital
Improve lending potential of EIB
Public and private parternsips at national levels
improve non-bank-based financing options and centre capital
Focus on SMEs and innovation
Human
Capital Skills
Match skills and jobs
Reduce youth unemployment
Utilise European Social Fund and European Sector Skills Council
Goals
Industry needs to be approaching a 20% contribution to GDP by 2020
Reverse the declining trend
Increase the trade in goods in the
internal market
to 25% of GDP by 2020
25% of SMEs engaging in markets
outside Europe
in the medium-term**
Leah Fowler - 1481924