EC plans to establish new European Competitiveness Fund

A new European Competitiveness Fund is planned to be established as part of the European Commission's budget, President of EC Ursula von der Leyen said during his speech at the groundbreaking ceremony for the European Semiconductor Manufacturing Company (ESMC) semiconductor plant, Report informs, citing the commission.

“Boosting our industrial competitiveness is a central pillar of the new five-year program of the European Commission that I put forward in July. First, I will propose a new European Competitiveness Fund as part of our new budget. It will invest in strategic technologies, and it will contribute to our Important Projects of Common European Interest.

The next European Commission must be and will be an investment Commission. Second, in the first 100 days of the new mandate, I will propose a new Clean Industrial Deal. One of its central goals will be to ensure access to cheap clean energy – it is wonderful to hear that you are completely renewable– and raw materials,” von der Leyen stated.