EK for reducing regulatory burdens on growth via innovation

The Confederation of Finnish Industries (EK) on Wednesday said that the European Union must aim at leadership in the global innovation race by reducing regulatory burdens, accelerating the clean transition, and pursuing new trade partnerships with unmatched vigour.

Support for Ukraine and investments in security must be scaled up to an entirely new level, said EK in a press release.

The European Commission has published its 2025 work program, which will shape EU policies for the coming years, as well.

The key priorities are largely in line with expectations of the Finnish Industries.

“The Commission is now prioritizing growth and competitiveness as key EU objectives, which is absolutely essential. Fundamental issues must be addressed: Single Market barriers need to be dismantled, and the competitive disadvantage caused by excessive regulation must be tackled with concrete measures. The focus on growth and innovation should also extend to EU funding and the development of capital markets,” said Director of EK Lotta Nymann-Lindegren.

“Investments in new, productivity-enhancing clean technologies, business activities, and skills are crucial. While the EU must hold on to its climate targets, companies should have more flexibility in choosing the means to achieve them cost-effectively and with all available technologies,” the Director added.

Europe must significantly increase its investment in defence and preparedness, said EK, adding that Finland’s expertise can play a role here, but improving connectivity and the situation of border areas requires European-level solutions.

Europe’s responsibility for supporting Ukraine is likely to grow, and both a clear European strategy and new, innovative financing solutions are needed.

The Commission has set an admirably high bar for digital technologies, particularly artificial intelligence (AI).

To achieve world-class competitiveness, EK called for substantial investments in key technologies and measures to accelerate private investments.

High-performance computing, data infrastructure, and cloud services are critical areas. On regulation, it is important to focus on high-quality implementation of existing rules rather than introducing new ones.