नवीनतम
EU unveils plan to boost competitiveness
NEW DELHI [Maha Media]: The European Commission presented the Competitiveness Compass, a strategic blueprint aimed at restoring the European Union (EU)'s economic edge and driving technological leadership as it seeks to close the gap with the US and China.
Acknowledging a two-decade lag in productivity growth compared to other major economies, the Compass focuses on boosting innovation, advancing decarbonisation, and strengthening security, according to the Commission's statement.
"Europe has everything it needs to succeed in the race to the top. But, at the same time, we must fix our weaknesses to regain competitiveness," European Commission President Ursula von der Leyen said in the statement.
The Compass builds on a strategic report released last year by Mario Draghi, the former Italian prime minister and former president of the European Central Bank (ECB), which calls for an additional annual investment of between 750 billion euros ($779 billion) and 800 billion euros to counteract Europe's decline in competitiveness, Xinhua news agency reported.
The Commission will launch "AI Gigafactories" and "Apply AI" initiatives to accelerate AI development and adoption across key industries, the Compass says. It also promises actions for advanced materials, quantum, biotech, robotics, and space technologies.
