As part of a wider coalition of associations, Invest Europe has signed a call to raise the bar on the Single Market by placing the facilitation of cross-border business activity across Member States at the forefront of policymakers’ actions. The proper, systematic enforcement of Single Market rules and the full harmonisation of the regulatory framework in key areas such as Environment, Energy, Digital and Telecommunications, Security, Health, Banking, and Capital across the entire EU have been neglected. Obstacles flagged by the business community – including start-ups and SMEs – remain unaddressed, with no straightforward procedure or governance structure to remove them.
As a result, the increasingly complex and fragmented regulatory environment has made it less attractive for all companies to invest and scale up rapidly in the EU. Unsurprisingly, this has led to less foreign direct investment, slower growth and less fiscal space for governments, exacerbating the cost-of-living crisis now felt by many European citizens. A well-functioning Single Market is indispensable to incentivise more investment and innovation in Europe, finance social security, fund quality education, and take additional measures for the climate
“Boosting Europe’s global competitiveness begins with raising the bar on the Single Market. Current EU regulations frequently create unnecessary hurdles for EU private equity, venture capital and growth managers, as well as their funds, and, critically, the companies they support to operate across Europe. The overarching goal for the Single Market should be inherently European and should emphasise funding the multitude of innovative and disruptive startups and scale-ups across Europe.”
Eric de Montgolfier CEO Invest Europe
