MNI BRIEF: EC Head Promises New EU Competitiveness Fund
MNI (BRUSSELS ) - EU Commission President Ursula von der Leyen has proposed a new “Competitiveness Fund” to finance “Important Projects of Common Interest” that will be part of the Commission’s long-term budget proposal next year.
Speaking ahead of a 1300 CET vote on whether to give her a second 5-year term as EC chief, she said the European Competitiveness Fund will allow Europe "to use its collective strength to invest together in ambitious common projects -- as has already been done on a smaller scale with batteries, hydrogen and microelectronics.”
“This investment capacity will invest in strategic technologies -- from AI to space, clean tech to biotech - to ensure that we develop strategic technologies and manufacture them here in Europe,” she noted
Von der Leyen also proposed to create a new European Defence Commissioner role and a new vice president to simplify and streamline the implementation of regulation and so ease the administrative burden on business.