General secretary of CEOE, Ana Plaza said, “We want the industry to represent 20 per cent of GDP by 2020,” while concluding the presentation of the report, ‘The industry, engine of growth: analysis and recommendations’, in the Congress of Deputies. Plaza highlighted the role of the Spanish industry, stating that “there is no doubt that the industrial sector is the growth engine of any economy.”

The president of the Industry and Energy Commission of CEOE, Guillermo Ulacia, also participated in the event and it was inaugurated by the president of the Commission of Economy, Industry and Competitiveness of the Congress, Arturo García-Tizón.

“The importance of a sector should not be measured in terms of the value of its production or the added value it generates, but must take into account the role it plays within the productive fabric of an economy,” said the president of the Commission of Industry and Energy of CEOE. Ulacia stressed that “the fourth revolution is key to industrial development”. Therefore, the report by CEOE highlights the challenges facing the sector and exposes some solutions such as achieving a competitive price of energy for industrial activities, developing infrastructure and regulatory measures and promoting internationalization, among others.

In addition, the report also cites challenges such as: stimulation and facilitation of investment in innovation, technological development and digitalization in companies; promoting training to guarantee talent and training; developing a regulatory framework that protects the principles of market unity, avoiding overregulation and improving regulatory efficiency and effectiveness; encouraging business resizing; promoting a coordinated fiscal policy and preventing legislation on climate change and emissions trading from placing Spanish companies at a competitive disadvantage, and betting on a circular economy.

Extracted and translated from Spanish

Source: CEOE