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Our recommendations for Europe’s digital transition
On 25 February the French Presidency will welcome the Member State's economic and finance ministers in Paris for an informal meeting to discuss topics relating to the union’s most pressing economic challenges. The digital economy contributes positively to society by supporting competitiveness, growth, creation of jobs, innovation and modern democracy. AmCham EU has outlined recommendations to the French Presidency that aim to support the EU’s digital transition and maximise its benefits.
The digitisation of industries and public services will be vital as we build a more resilient and sustainable economy. Investments in the digital sector will enhance the broader business community’s ability to contribute to future growth. They should ensure that all Europeans benefit from an increase in digital services and innovations. There are six focus areas to advance the EU’s digital transformation:
- Connectivity: The roll-out of 5G, coupled with fibre and enhanced Wi-Fi capacity will give consumers access to more information faster than ever before and will make business more efficient.
- Data: Investment in European data spaces and federated cloud infrastructures could have the transformative effect of making Europe one of the most attractive markets for the storage, processing and profitable use of free data flows.
- Digital capacities: Europe should accelerate investment, innovation and entrepreneurship to foster the uptake and scale-up of new technologies which have tremendous economic and social potential. • Digital skills: Significant investments in education, life-long learning, upskilling and reskilling are essential to ensure the workforce is ready for the jobs of tomorrow.
- E-customs: The EU should accelerate the transition to a fully electronic customs environment and take advantage of new technologies, such as blockchain, to create a world-leading robust customs framework that genuinely facilitates trade and supports the respect of the rule of law, including intellectual property rights.
- Intellectual property rights: Efficient, well-designed and balanced intellectual property (IP) rights enforcement will be key to promote investment, research, innovation, growth and the global business activities of companies. It will also allow Europe to increase its global competitiveness in innovative sectors.
Several proposals currently under discussion – such as the NIS 2 Directive, the AI Act and the Data Act – will also be critical to Europe’s ability to meet its digital transformation objectives and achieve the 2030 Digital Targets. Any additional requirement introduced in the digital space should be realistic and balance out the technical complexity of implementing new provisions with the need to foster the trust of citizens.
Key principles should guide the French Presidency as they steer these and other files through the decision-making process, in particular, openness to foreign investment, the promotion of international standards and the ability to foster partnerships. These will enable companies of all sizes to seize the benefits of the digital economy and support the EU’s competitiveness in the global economy.
Read our recommendation to the French Presidency and learn more about how policymakers can seize the social, cultural and economic opportunities the digital future holds.