Commenting on the Competitiveness Compass presented, Malte Lohan, CEO, AmCham EU, said: 'The Compass confirms the Commission’s intent to tackle the EU’s competitiveness gap, in particular the regulatory burden. Whether or not this moves the needle will only become clear once the roadmap is translated into concrete action. There is no time to waste.
The first real test will be the omnibus simplification package. That is where the Commission can show its ability to deliver simpler rules and speedier administrative procedures. Investors need a clear signal that Europe understands the severity of the economic situation and the role that the regulatory framework plays.
Our primary concern with the Compass is its plan to introduce European preference in public procurement. The private capital and innovation from American companies, including the €3.7 trillion worth of US investment located in the EU, bring massive benefits to the EU economy. The EU should take full advantage of this longstanding partnership to reinforce its resilience.’
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