12 Jun, 2023

Business Days participants call for better regulation

Non-regulation is as bad as over-regulation – this was one of the conclusions from last week’s Renew Europe Business Days in the European Parliament. The event brought together Europe’s main economic, business and industrial stakeholders to exchange concerns, needs, solutions and recommendations to make EU legislation fit for the new challenges of the business environment in an increasingly volatile and uncertain geopolitical context.

Chaired by Morten Løkkegaard MEP (Venstre, DK), participants included prominent personalities such as Margrethe Vestager, European Commission Executive Vice-President, Vitorio Colao, former CEO of Vodafone and former Minister of Technological Innovation and Digital Transition, Doris Birkhofer, President of Siemens France and Robert Gentz, CEO of Zalando, among others.

The main topics discussed included the challenges posed by the implementation of the European Green Deal legislative package for energy companies and European industry to be at the forefront of sustainable growth, as well as the impact that legislation such as the Digital Services Act, Digital Markets Act and Data Act have on the global competitiveness of European companies and on consumer privacy.

Løkkegaard, Renew Europe Vice-President and Chair of the Renew Europe Working Group on Economy and Digital Transformation, said:

“The Single Market is the crown jewel of the European Union, but the crown jewel is not shining as much as it supposed to. The impressive interest in our debates during Business Days are proof that European businesses are concerned about the state of the Single Market. As legislators, we need to find solutions for the issues faced in daily life by businesses and citizens, longing for more stability, predictability, we have three key priorities to help unleash the true potential of the EU Single Market: the need for more realistic assessments of future legislation, better coordination on implementation and enhanced focus on enforcement. Let’s renew the European business environment together!”

Photo credit: © European Union 2023 - Source : EP

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