The European Commission (EC) plans to unveil a five-year strategy aimed at simplifying administrative procedures for businesses in order to stimulate economic growth.
On Wednesday 29 January, the main objective of this plan is to reduce bureaucratic barriers to improve the state of the economies of EU countries. The document also includes strengthening the interaction between government agencies, private companies and EU member states. The document, which European Commission President Ursula von der Leyen calls the “North Star” of the new EC, calls for a new approach to EU competition policy to encourage companies to increase and deepen integration with the bloc’s “fragmented” capital markets. The program will optimize in many areas and reduce reporting requirements for small companies.
