Opinion factsheet

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    Bridging the Investment Gap: How to Tackle the Challenges

    BGCSDADEELENESETFIFRHRHUITLTLVMTNLPLPTROSKSLSV
    : CDR 4165/2016
    : MARKKULA, Markku
    : EPP (European People's Party)
    : ECON
    : Adopted
    : 08/02/2017
    to highlight and explore the investment gap, in particular from the perspective of cities and regions
    to assess the implementation of the Investment Plan for Europe, European Fund for Strategic Investments (EFSI) and related initiatives (EIAH, EIPP), including issues of geographical balance, additionality and governance
    THE EUROPEAN COMMITTEE OF THE REGIONS

     notes that investment in Europe has decreased by 15% overall as a direct result of the financial and economic crisis, that public investment has also fallen due to constraints introduced by budget regulation mechanisms at EU and national level, and that the level of total investment in the EU as a whole remains below pre-crisis levels in nominal terms, in 2015 almost EUR 60 billion lower than that in 2008;

     stresses that the potential of strategic investments in cities and regions is much higher than the general pre-crisis trends show;

     underlines that local and regional authorities (LRAs) are responsible for more than half of public investment in the EU, and that their investments have a direct impact on local economies, the dynamism of businesses, and the life and well-being of European citizens;

     points out that a significant share of obstacles to investment outlined in the European Semester are "territory related" in the sense that they either are relevant to the functions of LRAs as regards investment, or there is potential for LRAs to contribute towards easing or removing them; as a result, the current obstacles to investment might often have their roots – but consequentially also their solutions – at the local and regional level and within transnational cooperation;

     recalls that the CoR's top priority is to kick-start the EU's economy based on a bottom-up approach by stimulating targeted investment based on local needs, drawing on best practices at grass-roots level and encouraging a new entrepreneurial spirit; and stresses the need to create an innovative and entrepreneurial Europe that is citizen-focused; which is also the key political message of the Bratislava Declaration "Invest and Connect" adopted by the CoR on 8 July 2016.
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Importance

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2017
 

Speech: Investment for the circular economy

On 9 March 2017, Markku Markkula took part in the Circular Economy Stakeholder Conference organised by the European Commission and the European Economic and Social Committee.
President Markkula delivered a speech on the theme: "Circular economy: a financial endeavour".

 
09 Mar
 

Plenary adoption of the opinion and debate with EIB Vice President Vazil Hudak

The opinion by President Markkula on "Bridging the Investment Gap" was adopted unanimously by the Plenary Session of the European Committee of the Regions.

Before the vote, the Vice-President of the European Investment Bank, Vazil Hudak, addressed the Plenary session and took part in a debate with CoR members on investment and the relations between the CoR and EIB.

 
08 Feb
2016
 

ECON Adoption

On 2 December 2016, the CoR's ECON Commission debated and adopted Markku Markkula's draft opinion on "Bridging the Investment Gap: How to tackle the challenges".

Mr Miguel Gil-Tertre, Member of the Cabinet of Vice-President Katainen, took part in the debate with ECON Members on behalf of the European Commission.

The opinion as amended will now be on the agenda of the CoR's February 2017 Plenary Session, for final adoption.

 
02 Dec
 

Stakeholder consultation

On 7 November, the rapporteur Markku Markkula organised a consultation meeting where the key themes of the opinion on Bridging the Investment Gap were discussed with representatives of regional offices, associations and other stakeholders, as well as the Commission.

 
07 Nov
 

Workshop: Overcoming obstacles to investment

President Markkula took part in a European Week of Region and Cities (EWRC) workshop on "Overcoming obstacles to investment", along with representatives of the OECD, think-tanks and academia.

The workshop was also the occasion of the presentation of several new reports:

  • The results of a CoR survey of local and regional authorities on investment
  • A new study by Metis GmbH on Obstacles to investment at local and regional level
  • The latest CoR Monitoring Report of Europe 2020 and the European Semester, with a thematic focus on investment.

 
12 Oct
 

Rapporteur's activities

The rapporteur, President Markku Markkula, discussed how to bridge the investment gap with a group of experts and stakeholders.
The organisations represented in the meeting were: the European Policy Centre (EPC), the European Long-Term Investors' Association (ELTIA), the European Association of Craft, Small and Medium-sized Enterprises (UEAPME), BusinessEurope, Caisse des Dépôts and the Council of European Municipalities and Regions (CEMR).

 
04 Oct
 

Rapporteur's Activities

The rapporteur, President Markku Markkula, met with representatives of the European Commission's DG REGIO to discuss the role of financial instruments in bridging the investment gap.

 
04 Oct
 

Rapporteur's activities

The rapporteur, President Markku Markkula, met with representatives of the European Commission's DG ECFIN to discuss his working document on "Bridging the investment gap: How to tackle the challenges".

 
04 Oct
 

Exchange of views in ECON

Members of ECON debated the rapporteur's working document, with statements from Mr Roberto GUALTIERI (IT/S&D), Chair of the European Parliament's ECON Committee, and Ms Mary Veronica TOVSAK PLETERSKI, Director for Investment, growth and structural reforms, in DG EFCIN, European Commission.

 
28 Sep
 

Rapporteur's activities

The rapporteur, President Markku Markkula, met with a representative of the Slovak rotating Presidency of the Council, to discuss his work "Bridging the investment gap" and the interplay with the priorities of the Slovak Presidency.

 
27 Sep
 

Rapporteur's Activities

The rapporteur, President Markku Markkula, met with representatives of the European Commission's DG REGIO to discuss the challenge of administrative capacity in relation to the investment gap.

 
20 Sep
 

Rapporteur's Activities

The rapporteur, President Markku Markkula, met with representatives of the European Commission's DG GROW to discuss Innovation Policy and Investment for Growth, in relation to his opinion on "Bridging the investment gap"

 
20 Sep
 

Rapporteur's activities

President Markkula delivered the closing remarks at the conference "The Juncker Plan : and so what?" organised by the European Parliament Intergroup for long term investment.

More details on President Markkula's remarks here.

 
28 Jun
 

Rapporteur's activities

President Markkula delivered the closing remarks at the conference "The Juncker Plan : and so what?" organised by the European Parliament Intergroup for long term investment.

More details on President Markkula's remarks here.

 
28 Jun
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