Cutting through red tape in Europe

Image credit: Diana Polekhina on Unsplash

There are a couple of challenges that we need to deal with at some point: labour costs and regulations.

(01:20) “I think most European governments and the people in Europe have realised that it is important to keep manufacturing and all activities that relate to manufacturing in Europe. It’s something that everybody now realises is very important to do. But on the other hand, when we compare our manufacturers’ performance in Europe to the manufacturing performance of other regions in the world, the cost is maybe too high. And red tape activities are also quite time consuming, so there are a couple of challenges that we need to deal with at some point, sooner or later. How can we keep manufacturing in Europe but at the same time, adhering to the regulations and rules? And there is a way out of it: More automation, so that we don’t depend that much on labour costs.”

However much EU institutions are ridiculed for their strange regulations, it is primarily up to the national governments to regulate business and ensure that their regulation allows them to be competitive. Europe has all the knowledge and experience it needs to be the world’s most hospitable place to do business, all it takes is to put these efforts together and make progress.