The Current State of Industrial Production in the European Union and New Recovery Solutions

Abstract

Industrial activity is of great importance in the economic development of all countries, but in the last decades the results of this branch of the economies of many countries have faced various problems due to the systemic crises that economies in transition, but also the economies of developed countries, are going through. In this article, we propose to review some aspects of the situation regarding industrial production in EU countries, with a stronger focus on industrial production in Romania. It is more necessary to study these topics considering the crisis of the Covid-19 Pandemic, the geopolitical crisis in the region that has stopped multiple logistic processes related to the industry. In other words, it is important to connect the industrial strategies and policies of the European Union countries for the development of Industry 4.0/5.0, to digitize production systems, digital technological processes and robotization, efficient management of the production and distribution chain. We propose to outline the main objectives that must be taken into account for the development of new industrial policies focused on new directions of development for the Romanian economy.