20 Amendments of Valérie HAYER related to 2020/0108(COD)
Amendment 35 #
Proposal for a regulation
Recital 1
Recital 1
(1) The Covid-19 pandemic is a major shock to the global and Union economy. Due to the necessary containment measures, economic activity in the EU dropped significantly. The contraction in EU GDP in 2020 is expected to be around 7.5%, far deeper than during the financial crisis in 2009. The outbreak of the pandemic has shown the interconnectivity of global supply chains and exposed some vulnerabilities such as the over-reliance of strategic industries on non-diversified external supply sources. Such vulnerabilities need to be addressed, in particular for small and medium-sized enterprises (SMEs) and micro-scale businesses, to improve the Union’s emergency response as well as the resilience, cohesion, digitization and sustainability of the entire economy, while maintaining its openness to competition and trade in line with its rules. Investment activity is expected to have dropped significantly. Even before the pandemic, while a recovery in investment-to-GDP ratios in the Union could be observed, it remained below what might be expected in a strong recovery and was insufficient to compensate for years of underinvestment following the 2009 crisis. More importantly, the current investment levels and forecasts do not cover the Union’s needs for structural investment to restart and sustain long-term growth in the face of technological change and global competitiveness, including for innovation, skills, infrastructure, small and medium- sized enterprises (SMEs) and the need to address key societal challenges such as sustainability or population ageing. Consequently, in order to achieve the Union's policy objectives, and to support a swift, inclusive and healthy economic recovery, support is necessary to address market failures and sub-optimal investment situations and to reduce the investment gap in targeted sectors.
Amendment 41 #
Proposal for a regulation
Recital 5
Recital 5
(5) The InvestEU Fund should contribute to improving the competitiveness and socio-economic convergence and, cohesion and resilience of the Union, including in the fields of innovation and digitisation, to the efficient use of resources in accordance with the circular economy, to the sustainability and inclusiveness of the Union's economic growth and to the social resilience and integration of the Union capital markets, including through solutions that address the fragmentation of Union capital markets and that diversify sources of financing for Union enterprises. To that end, the InvestEU Fund should support projects that are technically and economically viable by providing a framework for the use of debt, risk sharing and equity instruments backed up by a guarantee from the Union budget and by financial contributions from implementing partners as relevant. The InvestEU Fund should be demand-driven, while at the same time it should focus on providing strategic, long-term benefits in relation to key areas of Union policy which otherwise would not be funded or would be insufficiently funded, thereby contributing to meeting policy objectives of the Union. Support under the InvestEU Fund should cover a wide range of sectors and regions, but should avoid excessive sectoral or geographical concentration and should facilitate access of projects composed of partner entities in multipleand projects that foster the development of networks, clusters and digital innovation hubs in all regions across the EU.
Amendment 64 #
Proposal for a regulation
Recital 18
Recital 18
(18) Although the level of overall investment in the Union was increasing before the Covid-19 crisis, investment in higher-risk activities such as research and innovation was still inadequate and is now expected to have suffered a significant hit with the crisis. The resultingSince the research and innovation will play a crucial role in consolidating the resilience of the Union to tackle future challenges, the InvestEU Fund should tackle the current underinvestment in research and innovation that is damaging to the industrial and economic competitiveness of the Union and the quality of life of its citizens. The InvestEU Fund should provide appropriate financial products to cover different stages of the innovation cycle and a wide range of stakeholders, in particular to allow the upscaling of and deployment of solutions at a commercial scale in the Union in order to make such solutions competitive on world markets and to promote Union excellence in sustainable technologies at a global level, in synergy with Horizon Europe, including the European Innovation Council. In that regard, the experience gained from the financial instruments, such as InnovFin – EU Finance for Innovators, deployed under Horizon 2020 to facilitate and accelerate access to finance for innovative businesses should serve as a strong basis to deliver this targeted support.
Amendment 71 #
Proposal for a regulation
Recital 19
Recital 19
(19) Tourism is an important area for the Union economy and the sector, which experienced a particularly severe contraction as a result of COVID-19 pandemic, with particular consequences for small family businesses. The InvestEU Programme should contribute to strengthening its long- term competitiveness by supporting operations promoting a sustainable, innovative and digital tourismrecovery in the tourism sector.
Amendment 78 #
Proposal for a regulation
Recital 24
Recital 24
(24) In the economic crisis caused by the Covid-19 pandemic, market allocation of resources is not fully efficient and perceived risk impairs private investment flow significantly. Under such circumstances, the key feature of the InvestEU Fund of de-risking economically viable projects to crowd in private finance is particularly valuable and should be reinforced, inter alia in order to counteract the risk of an asymmetric recovery. The InvestEU Programme should be able to provide crucial support to companies, in particular SMEs and micro-scale companies, in the recovery phase and at the same time ensure a strong focus of investors on the Union’s medium- and long-term policy priorities such as the European Green Deal, the European Green Deal Investment Plan, the Strategy on shaping Europe’s digital future, the Youth Guarantee, the European Child Guarantee, the new Industrial Strategy for Europe, the European Strategy for SMEs, and the Strong Social Europe for Just Transitions. It should significantly increase the risk-taking capacity of the European Investment Bank (EIB) Group and national promotional banks and institutions and other implementing partners in support of economic recovery.
Amendment 83 #
Proposal for a regulation
Recital 25
Recital 25
(25) The Covid-19 pandemic is a major shock to the global and Union economy. The contraction in EU GDP is expected to be far deeper than during the financial crisis in 2009 and adverse social effects will be inevitable. The outbreak of the pandemic has shown the need for strategic vulnerabilities to be addressed in order to improve the Union’s emergency response as well as the resilience of the entire economy. Only a resilient, digitalised, innovative, inclusive and integrated European economy can preserve the Single Market and the level playing field also to the benefit of the hardest-hit Member States.
Amendment 85 #
Proposal for a regulation
Recital 28
Recital 28
(28) The primary focus of the strategic European investment window should be on support to those final recipients established in a Member State and operating in the Union whose activities are of strategic importance to the Union, in particular in view of the green and digital transitions and of enhanced resilience in areas ofline with the priorities described in the New Industrial Strategy for a green and digital Europe, and the development model based on industrial ecosystems. The window should support projects that enhance the competitiveness of the Member States' economies, foster entrepreneurship and decrease dependence on vulnerable supply chains. Areas of strategic importance include (i) critical healthcare provision, manufacturing and stockpiling of pharmaceuticals, medical devices and medical supplies, strengthening of health crisis response capacity and of the civil protection system, (ii) critical infrastructure, whether physical or virtual; (iii) provision of goods and services instrumental to the operation and maintenance of such infrastructure, (iv)a) critical early detection and coordinated institutional and economic response capabilities to react in case of crisis risks, as well as on advancing business and service continuity solutions for essential public and private institutions and sector; (iib) crucial investments in renovation and integrating innovative solutions in the building sector, (iic) supporting the conditions for boosting entrepreneurship, financing private sector development, including start-ups and SMEs, privatisation processes, adaptation to technological development and sustainable sectoral development; (iid) investment and technical assistance for fostering entrepreneurial skills, for the creation of new start-ups, SMEs and family businesses and for the development of networks of clusters and digital innovation hubs across the continent; (iii) provision of goods and services instrumental to the operation and maintenance of such infrastructure, (iv) promotion of an innovative and sustainable re-industrialisation of Europe, following the priorities described in the New Industrial Strategy for a green and digital Europe and the development model based on industrial ecosystems through key enabling, transformative, green and digital technologies and game- changing innovations where the investment is strategically important for the Union’s industrial future, including artificial intelligence, blockchain, software, robotics, semiconductors, microprocessors, edge cloud technologies, high-performance computing, cybersecurity, quantum technologies, photonics, industrial biotechnology, renewable energy technologies, energy storage technologies including batteries, sustainable transport technologies, clean hydrogen and fuel cell applications, decarbonisation technologies for industry, carbon capture and storage, circular economy technologies biomedicine, nanotechnologies, pharmaceuticals and advanced materials; (v) manufacturing facilities for mass production of Information Communication and Technology components and devices in the EU; (vi) supply and stockpiling of critical inputs to public actors, businesses or consumers in the Union; (vii) critical technologies and inputs for the security of the Union and its Member States, such as defence and space sectors and cybersecurity, and dual use items as defined in point 1 of Article 2 of Council Regulation (EC) No 428/2009. The final recipients should have their registered office in a Member State and they should be active in the Union in the sense that they have substantial activities in terms of staff, manufacturing, research and development or other business activities in the Union. Projects which contribute to diversification of strategic supply chains in the Single Market through operations in multiple locations across the EU should be able to benefit.
Amendment 97 #
Proposal for a regulation
Recital 30
Recital 30
(30) The InvestEU should also provide support to financing to generate investment to the benefit of just transition regions, as well as the possibility for the respective regions to benefit from dedicated technical assistance via the InvestEU Advisory Hub.
Amendment 104 #
Proposal for a regulation
Recital 55
Recital 55
(55) The InvestEU Advisory Hub should support the development of a robust pipeline of investment projects in each policy window through advisory initiatives that are implemented by the EIB Group or other advisory partners, or are implemented directly by the Commission. The InvestEU Advisory Hub should promote geographic diversification with a view to contributing to the Union objectives of economic, social, and territorial cohesion and reducing regional disparities, including the possibility of prioritizing the allocation of its technical support and assistance to underdeveloped regions. The InvestEU Advisory Hub should pay particular attention to the aggregation of small-sized projects into larger portfolios. The Commission, the EIB Group and the other advisory partners should cooperate closely with a view to ensuring efficiency, synergies and effective geographic coverage of support across the Union, taking into account the expertise and local capacity of local implementing partners, as well as the European Investment Advisory Hub established under Regulation (EU) 2015/1017 of the European Parliament and of the Council34 . In addition, the InvestEU Advisory Hub should provide a central entry point for project development assistance delivered under the InvestEU Advisory Hub to public authorities and for project promoters. _________________ 34Regulation (EU) 2015/1017 of the European Parliament and of the Council of 25 June 2015 on the European Fund for Strategic Investments, the European Investment Advisory Hub and the European Investment Project Portal and amending Regulations (EU) No 1291/2013 and (EU) No 1316/2013 — the European Fund for Strategic Investments (OJ L 169, 1.7.2015, p.1).
Amendment 107 #
Proposal for a regulation
Recital 59
Recital 59
(59) In the context of the InvestEU Fund, there is a need to provide support for project development and capacity building to develop the organisational capacities and market development activities needed to originate quality projects. Such support should also target financial intermediaries that are key to help small companies’ access financing and realise their full potential, and it should include technical assistance, in particular for the Member States with weak financial ecosystems. Moreover, the aim of the advisory support is to create the conditions for the expansion of the potential number of eligible recipients in nascent market segments, in particular where the small size of individual projects considerably raises the transaction cost at the project level, such as for the social finance ecosystem, including philanthropic organisations, or for the cultural and creative sectors. The capacity- building support should be complementary and in addition to actions taken under other Union programmes that cover specific policy areas. An effort should also be made to support the capacity building of potential project promoters, in particular local organisations and authorities.
Amendment 117 #
Proposal for a regulation
Article 3 – paragraph 1 – point c
Article 3 – paragraph 1 – point c
(c) the Union's sovereignty and strategic autonomy, the social resilience, inclusiveness and innovativeness of the Union;
Amendment 122 #
Proposal for a regulation
Article 3 – paragraph 1 – point g
Article 3 – paragraph 1 – point g
(g) the sustainable and inclusive recovery of the Union economy, and in particular of the SMEs, after the crisis caused by the Covid-19 pandemic, upholding and strengthening its industrial eco-systems and strategic value chains and creating, maintaining and reinforcing activities of strategic importance to the Union in relation to raw materials, critical infrastructure, transformative technologies, game-changing innovations and inputs to businesses and consumers.
Amendment 145 #
Proposal for a regulation
Article 7 – paragraph 1 – point e – introductory part
Article 7 – paragraph 1 – point e – introductory part
(e) a strategic European investment policy window which comprises strategic investment to support final recipients that are established in a Member State and that operate in the Union, and whose activities are of strategic importance to the Union, in particular in view of the green and digital transitions and of enhanced resilienceline with the priorities described in the New Industrial Strategy for a green and digital Europe, and the development model based on industrial ecosystems. The window should support projects that enhance the competitiveness of the Member States' economies, foster entrepreneurship and decrease dependence on vulnerable supply chains, in view of the green and digital transitions, in one of the following areas:
Amendment 151 #
Proposal for a regulation
Article 7 – paragraph 1 – point e – point ii
Article 7 – paragraph 1 – point e – point ii
ii) critical infrastructure, whether physical or virtual, including infrastructure elements identified as critical in the fields of energy, transport, environment, health, secure digital communication, 5G, internet of things, online service platforms, secure cloud computing, data processing or storage, public administration, payments and financial infrastructure, aerospace, defence, communications, media, education and training, electoral infrastructure and sensitive facilities, security, housing, as well as land and real estate crucial for the use of such critical infrastructure;
Amendment 154 #
Proposal for a regulation
Article 7 – paragraph 1 – point e – point ii a (new)
Article 7 – paragraph 1 – point e – point ii a (new)
iia) critical early detection and coordinated institutional and economic response capabilities to react in case of crisis risks, as well as on advancing business and service continuity solutions for essential public and private institutions and sector;
Amendment 159 #
Proposal for a regulation
Article 7 – paragraph 1 – point e – point ii c (new)
Article 7 – paragraph 1 – point e – point ii c (new)
iic) supporting the conditions for boosting entrepreneurship, financing private sector development including start-ups and SMEs, and the expansion of networks of clusters and digital innovation hubs, privatisation processes, adaptation to technological development and sustainable sectoral development;
Amendment 160 #
Proposal for a regulation
Article 7 – paragraph 1 – point e – point ii d (new)
Article 7 – paragraph 1 – point e – point ii d (new)
iid) investment and technical assistance for fostering entrepreneurial skills, for the creation of new start-ups, SMEs and family businesses, that will diversify and expand the entrepreneurial market; investment and technical assistance for the development of networks of clusters and digital innovation hubs across the continent;
Amendment 163 #
Proposal for a regulation
Article 7 – paragraph 1 – point e – point iv – introductory part
Article 7 – paragraph 1 – point e – point iv – introductory part
iv) the promotion of an innovative and sustainable re-industrialisation of Europe, following the priorities described in the New Industrial Strategy for a green and digital Europe and the development model based on industrial ecosystems through key enabling, transformative, green and digital technologies and game- changing innovations where the investment is strategically important for the Union’s industrial future, keeping in mind the principle of just transition, including
Amendment 206 #
Proposal for a regulation
Article 24 – paragraph 2 – point c
Article 24 – paragraph 2 – point c
(c) where appropriate, assist project promoters in developing their projects so that they fulfil the objectives set out in Articles 3 and 7 and the eligibility criteria set out in Article 13, and facilitate the development of Important Projects of Common European Interest and a just transition towards a low-carbon economy for most affected regions and aggregators for small-sized projects, including through investment platforms as referred to in point (f) of this paragraph, provided that such assistance does not prejudge the conclusions of the Investment Committee with respect to the coverage of the EU guarantee with respect to such projects;
Amendment 236 #
Proposal for a regulation
Annex III – point 8 – point 8.4 a (new)
Annex III – point 8 – point 8.4 a (new)
8.4a Number of clusters and Digital Innovation Hubs supported for the creation of synergies between regional, national, European and private businesses and companies;