“Upholding Nordic competitiveness is essential to safeguarding the Nordic region’s long‑term prosperity, sustaining its innovative capacity, and preserving the social model that underpins high living standards,” Karen Ellemann, the Secretary General of the Nordic Council of Ministers, told Norden.org.
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She goes on to say that the aim of this report is to set the stage for a robust policy dialogue on how the Nordics can remain globally competitive, pursue an ambitious green transition, and uphold social cohesion.
Nearly two years since the Draghi report
The project is inspired by the so-called Draghi report, named after the former head of the European Central Bank and Italian prime minister Mario Draghi. He presented the report on Europe’s future competitiveness in September 2024.
The report was written on commission from the EU Commission.
It identified ten key sectors that are particularly important for EU to maintain its competitiveness in future.
These are energy, critical raw materials, digitalisation and advanced technology, energy-intensive industries, clean technology, the space sector, the pharmaceutical industry, the automotive industry, the transport sector and defence.
The report also examines areas linked to innovation, skills and investment needs and a strengthened governance within the EU.
At well over 400 pages, the report sets out more than 150 concrete proposals and nearly 400 measures.
The Draghi report’s message was crystal clear:
The EU is facing an existential choice. Invest massively in technology, innovation and the green transition, or accept a gradual decline in the shadows of the USA and China.
To be presented in six months
Work is now underway to create a similar report for the Nordic region. Some countries, including Norway, have already made their own “Draghi report”.
Copenhagen Economics has been commissioned to produce the Nordic report, which is due to be finished this September.
“A key question for this project is therefore how the Nordic model performs in the new global competitive landscape – and which elements of it may remain sources of strength going forward,” says Jonas Bjarke Jensen, managing economist at Copenhagen Economics.
The Nordic study will provide an analysis of competitiveness from a regional perspective.
It will offer a data-driven overview of how Nordic economies perform across key competitiveness indicators, including innovation, entrepreneurship, access to capital, digitalisation, administrative and regulatory impacts, energy costs and economic resilience.
It will compare the Nordic region with both European and global competitors to assess where it stands today and to identify its strengths and weaknesses.
