Spain and Mario Draghis report on European macro-competitiveness

Let's take a look at how Spain could benefit from the published report. A priori there are several potential upsides to it. Mario Draghi's recent report on European competitiveness recommends a New EU Industrial Strategy based on four main building blocks:

• full implementation of the Single Market,

• a coordinated industrial and trade policy strategy,

• a massive investment plan, and

• reforming EU governance to reduce regulatory burdens

The report emphasizes closing the innovation gap with the US and China, accelerating decarbonization, and increasing security to reduce dependencies.

Draghi also highlights the need for significant investments in R&D and infrastructure, aiming for 3% GDP spending on R&D to enhance Europe's global competitiveness.

How could Spain then benefit for these measures?

The Iberian country could potentially benefit in several ways:

1. Investment boost: The proposed massive investment plan could help Spain attract more funding for infrastructure, R&D, and strategic industries. This could stimulate economic growth and job creation in the country.
   

2. Industrial competitiveness: The focus on a coordinated industrial policy strategy could help Spain strengthen its position in key sectors, potentially becoming a European hub for research and production of innovative medicines

   
   

3. Innovation acceleration: Draghi's emphasis on closing the innovation gap with the US and China could lead to increased support for Spanish tech companies and startups, fostering a more dynamic innovation ecosystem

   
   

4. Energy cost reduction: Proposals to lower energy prices for final consumers could benefit Spanish industries, making them more competitive internationally

   
   

5. Skills development: The suggested 'Union of Skills' focusing on lifelong learning and vocational training could help address Spain's skills gap and unemployment challenges

   
   

6. Strategic autonomy: Efforts to reduce dependencies on foreign suppliers for critical materials and technologies could create opportunities for Spanish companies in strategic sectors

   
   

7. Simplified regulations: The proposed governance reforms to reduce regulatory burdens could make it easier for Spanish businesses to operate and expand within the EU

   
   

These measures, if implemented, could help Spain enhance its economic competitiveness, attract investments, and strengthen its position within the European Union's industrial landscape.