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European Commission - Speech [Check Against Delivery] Speech by Executive Vice-President Fitto at High Level Session “A Cohesion Policy for a Competitive Union” Brussels, 14 October 2026 Good afternoon, ladies and gentlemen, Ministers and regional presidents, Experts, Competitiveness has moved to the centre of the European debate. It has become a keyword that we use again and again, but it is not always easy to grasp...
European Commission - Speech [Check Against Delivery] Speech by Executive Vice-President Fitto at High Level Session “A Cohesion Policy for a Competitive Union” Brussels, 14 October 2026 Good afternoon, ladies and gentlemen, Ministers and regional presidents, Experts, Competitiveness has moved to the centre of the European debate. It has become a keyword that we use again and again, but it is not always easy to grasp what it really means. Many reports in recent years have made the case for action to boost competitiveness. That Europe needs to act and act quickly. Highlighting the need for massive investments in European competitiveness: To close a widening innovation gap, To decarbonise the economy, To invest in strategic sectors, and to reduce our strategic dependencies. Cohesion Policy has been investing in competitiveness this for decades: supporting businesses, strengthening regions and turning investment into tangible results on the ground, contributing to Europe's competitiveness, one step at a time. Because Europe's economy is not powered by just a few engines, but by many. This is also what we mean with this year's motto of the European Week of Regions and Cities. Europe can only be as strong as its regions. And European competitiveness cannot be achieved by a few regions acting alone. It must be built across Europe, in every region. And cohesion policy is a key driver for this. Cohesion policy is already Europe's main investment policy. Over 58% of our investments – around 220 billion euros – support the objectives of the Competitiveness Compass. These investments build: stronger capabilities and institutions, new investments and collaborations, innovative products and technologies, better services for citizens and firms. In other words, these investments build more competitive regions and in turn a more competitive Union. And this is important because competitiveness is not only about what happens in Europe's leading centres. Europe needs world-leading hubs in AI, biotech, quantum and other strategic technologies. But we also need the capacity to develop and use these technologies across Europe. We need these capabilities in all parts of Europe, supported by strong connections, the right skills and value chains in every region. The benefits and opportunities of technology must be felt everywhere. And this is not only about technology. It is also about the conditions that allow businesses to invest and people to build their lives. In the face of industrial and technological transformation, we need to: create opportunities, address gaps in quality jobs, housing, healthcare and education, and invest in the infrastructure that communities and businesses depend on. Because these issues are closely connected. Businesses are more likely to invest where they can find the skills they need, reliable infrastructure and good connections. And people are more likely to stay and build their future where they can find good jobs, affordable housing and quality public services. This is what makes regions more competitive. And this is at the heart of the modernisation of Cohesion Policy. Last year's Mid-term Review gave Member States and regions the possibility – on a voluntary basis - to reallocate resources to five new priorities: competitiveness housing, energy, water, and defence. Member States and regions decided to mobilise 35 billion euros for these new strategic priorities. Of this, more than 15 billion euro were used for competitiveness, investing in concrete projects that are critical for Europe's competitiveness – and for our strategic autonomy in a changing world. This shows that Cohesion Policy can respond to changing circumstances while remaining firmly rooted in the realities of our regions. And it also shows the importance of giving Member States and regions the flexibility to decide where investments can have the greatest impact. But the Mid-term Review was just a first step. The Commission proposals for the future EU budget put even more focus on competitiveness – both through the European Competitiveness Fund and the future National and Regional Partnership Plans. The Plans will empower regions by bringing together the main levers of competitiveness. Greater flexibility will be given to Member States and regions in the allocation of resources. So that regions can target investments to their specific needs, make their best of their specific assets – and turn Europe's regional diversity into a source of competitive advantage. This is important because there is no single model of competitiveness. What works for a major industrial region will not necessarily work for a rural area, an island, an outermost region or a region undergoing industrial transition. Our approach therefore needs to recognise these different realities while keeping a clear focus on our common European objective. New investments will help make our regions better places to live, work and invest – and at the same time more resilient and secure. Ultimately, competitiveness is about creating the conditions for people and businesses to succeed in every part of Europe. It means good jobs, strong businesses, reliable infrastructure and communities where people can see opportunities for themselves and their families. And this is where your experience matters. You know the strengths of your regions. You know where investments are needed, where opportunities exist and where barriers remain. The success of the next investments will depend not only on the resources available, but on how well we use them. And how well we connect European priorities with the realities on the ground. Your voices and experience will therefore be essential in making this work in practice. I look forward to our discussion and to working with you as we take this forward. Thank you. SPEECH/26/2163 <@rel_link@>
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