Government launches strategy for technology-leading and competitive industry

Sweden’s prosperity is based on our position as one of the world’s leading innovation-driven industrial nations. However, this position is threatened by the extensive subsidies and tariffs introduced by an increasing number of countries. This means that Swedish companies are not competing on a level playing field. Moreover, industry is subject to huge demands to handle increasingly rapid technological developments and the challenging geopolitical situation.

– In a time of unease and insecurity, Sweden needs to be strategic in playing to its strengths. Our prosperity is based on our position as one of the world’s leading industrial and innovation nations. The Government is therefore presenting an industrial strategy that charts a course towards technology-leading and growing industry. We are now building a stronger Sweden for the future, says Minister for Energy, Business and Industry Ebba Busch. 

– Higher growth is crucial if we are to afford a strong defence and effective welfare. This is why we are now boosting Swedish competitiveness – cutting red tape and introducing tax relief and initiatives for infrastructure, research and energy systems – so that more businesses will want to stay and grow in Sweden, says Minister for Finance Elisabeth Svantesson.

– One of this Government’s most important priorities from the start has been streamlining and expediting environmental permit processes, which the business sector has long called for. If Sweden is to ensure the competitiveness of its industry and implement the green transition, we need predictable and modern permit processes with decisions made within reasonable timeframes, says Minister for Climate and the Environment Romina Pourmokhtari. 

The strategy contains measures in four areas:

• Research and innovation to enable technology leadership
• Resilience and supply preparedness in uncertain times
• Risk-sharing and financing for a growing industry in transition
• Basic conditions that create a framework for industry

Sweden’s innovation agency Vinnova and others have been tasked with implementing initiatives for excellence clusters and strategic technological areas. This is the biggest reform of innovation and technology policy for a decade. The strategy also emphasises the importance of action to ensure simpler, more uniform and more efficient permit processes throughout the country. This could, for example, be achieved by introducing a one-stop shop for permit applications. The strategy also includes assignments to the Green Acceleration Office to analyse local authority incentives to attract major business start-ups and expansions.