New industrial policy

Globalization and growing geopolitical uncertainties have highlighted the urgent need to redefine countries' industrial policies. In this context, the new industrial policy seeks to build a more resilient, sustainable and technologically advanced economic model.

The European Union's new industrial policy and the Spanish Government's Industry and Strategic Autonomy Act of 2024 are aligned around a common vision of boosting strategic autonomy and the development of proprietary Capabilities , with the aim of strengthening the competitiveness and economic resilience of member countries.

• Development of own Capabilities and strategic autonomy: the EU and Spain are prioritizing the creation and consolidation of internal industrial Capabilities , both to reduce dependence on external actors in key sectors and to ensure greater control over strategic processes. This vision is oriented towards an open strategic autonomy, which seeks to balance global competitiveness with the need to protect vital sectors. This concept translates into greater investment in strategic sectors such as renewable energy, semiconductors, artificial intelligence and cybersecurity, with the aim of securing access to critical technologies and control over key infrastructures.
• Boosting digitalization: digital transformation is recognized as an essential pillar to modernize industry, improve productivity and ensure global competitiveness. The EU promotes digitalization not only through basic digital infrastructure, such as 5G and connectivity, but also through the promotion of artificial intelligence and Big Data. In Spain, it highlights the need to promote the digitization of small and medium-sized enterprises (SMEs) through access to financing and training in new technologies.
• Critical technologies: The protection and development of key technologies, such as microchips, renewable energies or advanced materials, is a central aspect of the new industrial policy. The EU seeks to create sustainable and secure value chains that do not depend on vulnerable external supplies, such as those from Asia or geopolitically unstable markets. Spain is committed to strengthening local manufacturing of advanced technologies, reducing the technological gap with other economic powers.
• Green transition: The environmental and climate challenge is integrated as a key priority within European industrial policy. The EU's Green Agenda and Spain's 2024 Industry Act emphasize the transition to a circular economy, the reduction of pollutant gas emissions and the promotion of clean energy. Technologies for decarbonization are promoted, with an emphasis on sectors such as electric cars, renewable energies (solar, wind, green hydrogen), and sustainable infrastructures. This drive seeks not only to adapt to new global environmental regulations, but also to ensure the creation of green jobs and European leadership in clean technologies.
• Strategic markets: Policies are also aimed at strengthening key markets in sectors such as health, artificial intelligence and robotics. In this regard, new opportunities are sought for European companies, promoting innovation and the development of high-tech products and services and emphasizing inter-industrial cooperation to develop these sectors and create a single innovation space.
• Resilience of supply chains: a central objective of current industrial policies is to improve resilience to future economic or geopolitical crises. The COVID-19 pandemic highlighted the vulnerability of global supply chains, which has led the EU and Spain to focus on diversifying supply sources and creating local production of key inputs. The transition to more robust supply chains that are less dependent on third countries is vital for the security and sustainability of the industry.

Novadays accompanies this transformation process towards a stronger, more autonomous and resilient industrial ecosystem, supported by digitization, boosting critical technologies, green transition, and securing strategic markets. These policies seek to place Europe in a competitive position vis-à-vis other global powers, while ensuring sustainable growth and a more autonomous industrial future.