The European Commission proposes the Industrial Accelerator Act (IAA). The objective of the IAA is to accelerate the industrial capacity for the production of low carbon and europe origin technologies and products.
The IAA proposals are focused on four main actions:
Low-carbon and “Made in Europe” requirements for public procurement: introducing criteria for products such as steel, cement, aluminium, cars, and net-zero technologies to prioritize low-carbon production and European manufacturing.
Simplification of permitting: establishing a digital single point of contact for permitting at the national level. In line with the Net-Zero Industry Act, permitting procedures should have a maximum duration of 18 months.
Valuable foreign investments: establishing an investment regulatory authority to assess foreign investments above €100 million. At least 50% of the workforce involved in supported projects should be located in Europe.
Industrial Acceleration Areas: designating specific areas to increase manufacturing capacity, where the availability of infrastructure and industrial development is facilitated.