The Importance of Economic Competitiveness

The European Commission is prioritizing economic competitiveness, particularly in the clean tech sector, amid significant challenges posed by global competition and rising energy costs. European companies face intense competition from countries like China, which has dominated the solar panel market, contributing to the closure of local manufacturers. With elevated energy costs impacting industries, especially energy-intensive ones, there is a pressing need to retain businesses within Europe to maintain employment and stave off industrial decline. This context has driven the Commission to propose the Clean Industrial Deal, aiming to create a more favorable investment environment to attract companies back to the EU.