Challenges and Solutions for EU Competitiveness: Insights from Mario Draghi's Report

Former European Central Bank chief Mario Draghi presented preliminary insights into his upcoming report on the EU's competitiveness. Addressing EU ambassadors, he highlighted issues such as low investment and high energy prices. The report will offer recommendations for 10 industrial sectors to maintain global competitiveness.

Former European Central Bank chief Mario Draghi has highlighted key issues undermining the European Union's competitiveness in a closed-door session with EU ambassadors. Draghi, who is expected to release his detailed report on Monday, emphasized the urgent need to address low investment, high energy prices, and skills gaps.

The forthcoming report, commissioned by the European Commission, aims to guide future debates on EU competitiveness. According to EU diplomats, Draghi stressed the importance of accelerating digitalization and involving the private sector in driving radical changes.

The report will also cover the EU's productivity gap, dependencies on key imports like battery minerals from China, and climate change. It will conclude with 10 major industrial recommendations to secure the bloc's competitive edge against global rivals.

(With inputs from agencies.)