European businesses and companies call EU: Speed ​​up investment permits

2024-02-13 11:57:13Biznes SHKRUAR NGA REDAKSIA VOX

European businesses and companies call EU: Speed ​​up investment permits

Eight out of 10 companies say the time it takes to secure permits is a barrier to investing in Europe and speeding up the process should be a top EU priority, business lobby BusinessEurope said today.

In its survey of 240 companies, 83% found complexity and length of time to be a barrier to investing in Europe, with 53% calling the permitting process a "serious problem".

BusinessEurope president Fredrik Persson said most members felt the investment climate in Europe was worse than in the United States and Asia and the top three factors were energy costs, then over-regulation and lengthy permitting procedures.

The lobby group, whose membership consists of the national business federations of 36 countries, said the next European Commission from 2024 to 2029 should tackle permits to increase Europe's competitiveness. "This essentially comes at no cost, but a huge advantage for companies," Persson told me.

The published data showed that 47% of companies took one to three years to secure permits and 16% even longer. Many companies needed multiple permits to operate, such as an LNG terminal in Germany that needed about 20 per year.

Persson said international competition had intensified and the United States and Asia were taking a more flexible approach to permits, with the option of fast-tracking or setting fixed times, making this investment spurred.

He said it took twice as long to build a wind farm in Germany or get a medical device approved in Europe than in the United States. Persson said the businesses weren't asking authorities to lower the bar. "It's not the percentage we're trying to change here, it's the speed," he said.

Under a law that will come into force this year, the EU will set short deadlines for granting permits for the production of clean technology with a single national body responsible for the process.

Persson said this was a good first step, but this time-bound approach should be applied to all parts of the value chain, such as the steel produced for a wind turbine tower.


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