A renewed Industrial Policy Strategy

EU industry seems to be on a solid path to recovery from the crisis with growth in both employment and value added. Industry creates jobs across the economy and is responsible for the bulk of investment in private research and development. Similarly to other developed parts of the world, European industry is undergoing a transformation based, among others, on increasing the convergence between traditional industries and the digital sector. This change creates both opportunities and challenges. In order to maintain the global competitiveness of European industry, many current shortcomings, such as insufficient investment levels, widening productivity and innovation gaps or skills shortages, must be addressed.

Source: © European Union - EP