VDMA: Industrial Strategy 2030 underestimates SMEs
Germany – Minister of Economics Peter Altmaier recently presented the ”National Industrial Strategy 2030” and has reaped criticism from the German Mechanical Engineering Industry Association.
VDMA, the German Mechanical Engineering Industry Association, has criticised the National Industrial Strategy 2030, saying that it underestimates the importance of SMEs. The Federal Ministry of Economics and Energy says that, together with the big corporations of the economy, the aim of the Industrial Strategy is to make a contribution to secure and regain economic and technological competence, competitiveness and industrial leadership at national, European and global levels. It is intended to define accounts when action by the country is exceptionally justified or necessary to avoid serious disadvantages to the economy and the welfare of the country.
According to VDMA, the mechanical engineering sector is, however, extremely sceptical about direct interference from the national level. “Our strength lies in the innovative strength that distinguishes SMEs in particular. National intervention here is more of a curse than a blessing,” says VDMA Executive Director Thilo Brodtmann. “The best government instrument is an innovation-friendly framework.”
The VDMA also criticised Altmaier for underestimating the importance of industrial SMEs. “The focus of the Industrial Strategy is one-sidedly directed at big corporations,” says Brodtmann. Industrial SMEs are indeed far more than just suppliers and added. “They are the driving force for digitisation and artificial intelligence. Their flexibility and innovative strength have made it possible for Europe to remain a serious competitor in a rapidly changing world.” The VDMA has also hailed for international tax competition and a reduction in bureaucracy. Tax incentives for research is necessary and long overdue.
This article first appeared in www.maschinenmarkt.vogel.de.