Airbus and others call for sovereign infrastructure fund, buy European

In a joint open letter, Airbus, Dassault Systemes, and over 90 smaller European tech firms are calling on European Commission President Ursula von der Leyen to create a sovereign infrastructure fund. The companies argue that this fund is essential to boost public investments in cutting-edge technologies. The letter, dated March 14, stresses the urgency of Europe enhancing its technological independence to safeguard its sovereignty in critical sectors, particularly in the face of recent developments in the U.S. and EU policies.

The group warns that Europe’s current dependency on non-European technology poses significant risks to security, reliability, and economic growth. The letter calls for efforts to regain Europe’s initiative in both digital and physical infrastructures, ranging from AI and applications to chips and connectivity. These dependencies, they argue, undermine the continent’s growth potential and technological leadership.

A key element of their proposal is the establishment of a sovereign infrastructure fund, which would help finance capital-intensive sectors like quantum technology and semiconductor production. This fund would play a crucial role in Europe’s long-term efforts to build self-sufficiency and reduce reliance on external players in strategic industries.

In addition to the infrastructure fund, the signatories are advocating for a “buy European” policy. This initiative would encourage governments to prioritize European suppliers in procurement tenders, helping foster local innovation and boosting investments. The aim is not to exclude non-European competitors but to create a fair space for European firms to compete and grow.

SOURCE: REUTERS