The European Commission has thrown its support behind a new effort to foster ideas designed to boost the EU’s economic competitiveness on Tuesday, joining business leaders and experts at the launch of a new initiative coordinated by the World Economic Forum.
The project, Leaders for European Growth and Competitiveness, aims to drive structural reforms across four key areas: clean energy and industry, emerging technologies, financial markets and international partnerships. It builds on discussions held in Davos earlier this year, but Tuesday’s event in Brussels marked a more concrete step toward shaping policy.
The initiative aims to gather stakeholders in workshops to propose concrete solutions with the hope that these lead to tangible reforms at EU level.
The initiative is backed by several senior EU figures, including Commission President Ursula von der Leyen, European Parliament President Roberta Metsola and Council President António Costa, who hosted or participated in sessions throughout the day.
Each of the initiative’s four pillars is co-chaired by a European Commissioner. Wopke Hoekstra, Commissioner for Climate, Net Zero and Clean Growth, is leading a pillar on clean and competitive industry and energy. Henna Virkkunen, Executive Vice-President for Tech Sovereignty, Security and Democracy, oversees the workstream on emerging technologies, focused on strengthening Europe's position in areas like AI and digital infrastructure.
Maria Luís Albuquerque, Commissioner for Financial Services, co-chairs the pillar on financial markets, which aims to deepen capital market integration and mobilise private savings for investment, while Jozef Síkela, Commissioner for International Partnerships, leads the work on strategic alliances, targeting new trade and investment ties to secure supply chains and critical raw materials.
While the World Economic Forum, mostly known for its annual Davos gathering, is facilitating the process, the initiative is closely aligned with the Commission’s own priorities, including its Competitiveness Agenda and plans for a Savings and Investment Union.
