Jordi Hereu defends a greater presence of industrial sectors in the European Competitiveness Fund

The Minister for Industry and Tourism, Jordi Hereu, in the group photo of the Competitiveness Council meeting

The Minister for Industry and Tourism, Jordi Hereu, has defended in Brussels the need for the European Competitiveness Fund proposed by the European Commission to encourage industrial investment in the EU to include specific instruments for the different sectors, such as steel, automobiles and chemicals.

At the Competitiveness Council (COMPET) meeting, the EU27 discussed important issues for boosting European industrial competitiveness, especially as regards the adaptation of the Competitiveness Fund for enterprises.

The European Competitiveness Fund proposed by the Commission is primarily intended to act as a catalyst to bridge the investment gap needed for Europe to meet its competitiveness, ecological transition, security and resilience aspirations.

To achieve Europe's green and industrial policy objectives, targeted investments and mobilisation of sufficient capital by both public and private actors are required. In this line, the European Competitiveness Fund aims to use all available EU financial instruments, and to provide more effective and targeted support to key sectors and projects.

Quick and easy access to finance

To this end, companies, especially SMEs and start-ups, must be able to access finance in a simple and agile way, with minimum administrative hurdles.

In this respect, Jordi Hereu stressed that a specific instrument must be introduced to directly promote productive industrial capacities, so that industrial plans such as those for steel, automobiles and chemicals can be reflected in the thematic windows, with specific actions for each sector.

For his part, the Spanish Minister for Industry and Tourism believes that regionalisation criteria could also be considered in terms of governance, to ensure a geographical and sectoral balance. Governance could be complemented by a European Institute for Industry, which could also act as a one-stop shop, along the lines of the European Institute for Innovation and Technology.

"Ultimately, we must ensure that the European Competitiveness Fund becomes a key instrument for realising the EU's industrial aspirations and technological leadership," he said.

Semiconductor Alliance Statement

Prior to the COMPET, Jordi Hereu took part in the meeting of the ministers of the member states of the Semiconductor Alliance, led by the Netherlands and attended by the European Commission, which aims to strengthen Europe's position in the global semiconductor industry.

Alliance members have signed a Declaration, supported by all 27 member states, which has been submitted to the Commission. The Declaration aims to further key objectives of the EU Chip Law, which is currently under public consultation, including strengthening the European ecosystem, maintaining and improving leadership at critical points in the value chain, and ensuring capacity, supply chain stability and technological autonomy.

Semiconductors, the cornerstone of the digital age

Hereu explained that semiconductors are a fundamental pillar of the digital age, so it is essential to ensure our autonomy in this sector to build a resilient, competitive, prosperous and secure European economy. "And to achieve this, we must strengthen our leadership in market segments where Europe already excels, such as automotive chips, power electronics and industrial applications," he said.

A new meeting of the Electro-intensive Industries Alliance will also take place in Brussels on 30 September 2025, chaired on this occasion by Minister Hereu, which aims to address the challenges facing the European electro-intensive industry, threatened by high energy prices, the risk of carbon leakage, limited access to financing and geopolitical uncertainty.

The aim of these meetings is to design in a coordinated way joint solutions to ensure that European industries are not left behind in a globalised world, and that they position themselves as leaders in the green transition.

Non official translation