Danish Business welcomes the EU Commission's proposal for an Industrial Accelerator Act (IAA), but emphasizes that new interventions must be proportionate. The proposal is intended to strengthen European industrial production and reduce strategic dependencies in a more geopolitically uncertain world. This is stated by the Danish Chamber of Commerce in a press release.
The proposal combines, among other things, faster approval processes with new requirements for European origin and conditional access for major foreign investments in strategic sectors.
- The Danish Chamber of Commerce wants an Industrial Accelerator Act that promotes European green industry and reduces risky dependencies. At the same time, Danish companies in this field are global players, purchasing on an international market and with a value chain that often lies outside Europe's borders. Therefore, interventions in this freedom must focus on addressing specific vulnerabilities, for example in digital control systems, says Ulrich Bang, deputy director of the Danish Chamber of Commerce.
The proposal also implies that a minimum share of selected products and main components in green technology that receive support through public auctions, tenders and support pools must be produced in Europe. The measure is intended to increase demand for European technology such as wind turbines and charging stations, but may also affect the price of expanding green energy.
In addition, the proposal sets out access requirements for foreign investments in strategic sectors. Among other things, this could require that major investments in the green sector contribute jobs, technology and use European input. According to the Danish Chamber of Commerce, it is important that the requirements are effective and commensurate with the risks and vulnerabilities that they are intended to address.
- Fortunately, the European green industry and energy transition attract foreign investments. We must maintain that. But we must not be blind when it comes to Europe's security and independence. It is therefore understandable that the proposal looks at requirements for investments from third countries, but it is important that the requirements are effective and commensurate with the risks and vulnerabilities that it is intended to address, says Ulrich Bang.
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