EU’s largest companies demand fewer regulations

28 of the largest companies in the EU are ready to increase their investments in Europe by 50 percent by 2030. But only if the EU delivers reforms that can strengthen Europe’s competitiveness and security.

This is stated in a declaration that the 28 companies have delivered to EU leaders on Wednesday at the House of Industry in Copenhagen.

It is the Danish Prime Minister, Mette Frederiksen, the President of the European Commission, Ursula von der Leyen, the French President, Emmanuel Macron, and the Prime Minister of Poland, Donald Tusk, who will receive the declaration from the companies on Wednesday.

The list from the 28 companies with demands for the EU has five overarching points. They concern fewer and simpler rules, increased incentives for investment, cheaper energy, a stronger defense industry, and technological resilience.

The companies, which include Novo Nordisk, Maersk, Ørsted, and a number of defense companies, want the EU to remove and simplify existing legislation. This includes legislation that overlaps or is contradictory.

If EU politicians do as the companies suggest, the companies will respond with increased investments in Europe, it is stated.

Prior to the meeting, DI conducted an analysis showing that the EU has invested a total of 4,800 billion euros less since the turn of the millennium than if the EU had had the same investment rate as the USA.

And if the gap is to be closed, annual investments need to be increased by about 800 billion euros over the next six years.

In the so-called Draghi report, the former head of the European Central Bank, Mario Draghi, also warned last year that the EU is falling behind compared to China and the USA.

If all major European companies match the investments from the 28 companies, this gap can be closed, it is stated.