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Denmark Presentation .pptx

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AnjuAnnGeorge
AnjuAnnGeorge

This document summarizes Denmark's Recovery and Resilience Plan. It provides background on Denmark, including its population, government, economy, and relationship with the EU. It then outlines Denmark's original 1.5 billion recovery plan, which focused on climate and digital transitions. The plan is being amended to reallocate 10% additional funding from green transition to digital strategy. This is expected to provide 66.5 million more for digital initiatives and improve productivity. Focusing more on digital offers benefits like better investment returns, economic growth, and job creation, but also poses challenges around infrastructure, implementation, skills, and data utilization.

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DENMARK RECOVERY AND RESILIENCE PLAN PROJECT Presented By: Klaudyna O Connor 20094855 Belinda Hamilton 20079235 Evelinah Owalaye 20010599 Anju Ann George 20095909
Denmark Profile Population: 5.8 million Capital: Copenhagen Official language: Danish Currency: Danish Krone One of the happiest countries in world UN World happiness report The Danish flag is the oldest in the world, dating back to 1219 Oldest monarchy in the world current ruler Margrethe 2nd Main imports equipment, chemicals, consumer goods and grains and foodstuffs Main exports Machinery, meat, fish, dairy products, medicines Parliament is called Folketinget First woman prime minister Mette Frederiksen
Denmark Economy GDP per Capita in PPS 129 Expected impact of the recovery plan: between +0.4 % and + 0.6 % of the GDP by 2024* Current unemployment rate: 5.6% Public Debt (% of the GDP): 36.7% in 2022 EU trade 52% exports 69% imports *Commission forecasts and simulation Source: https://tradingeconomics.com/denmark/government-debt-to-gdp
Denmark and the EU Denmark joined the European Communities (pre-EU) in 1973 along with UK and Ireland Under the Edinburgh Agreement 1992 national currency remained as Krone European parliament members 14 members Denmark has formal opt-outs from defence, economic and monetary union and justice and home affairs in the EU Source: Wivel, A., 2014. [online] Available at: <https://www.researchgate.net/publication/267097798_Denmark_and_the_European_Unio n> [Accessed 22 April 2022].
SWOT Analysis Strengths Highly developed Welfare System High Socio-Cultural Order Ranks 2nd in the Climate Change Powerful Economy(high GDP per Capita) compares to its small geographical size. Leader in Innovation expenditure (2014- Up to 2018). ( CCPI-2022)./ (Source: C C index in 2022.) Weaknesses Excessive Household Debt Elevated House Valuations Small & Open Economy High Exposure to the UK & Brexit Loss of Competitiveness, mainly due to high Tax Burdens High amount of Regulatory Requirements Lack of sufficient progress in increasing ICT specials in the workforce and reducing the growing shortage of talent with advanced digital skills (Source: allianz-trade.com)
SWOT Analysis Opportunities With the newly launched digital strategy for Denmarks Digital Growth, the country has a good foundation to remain at the forefront of digital development. Delivery of digital public services among EU countries. A future NATO centre for research in quantum technology is planned on Danish soil Threats Rapid digitalization risks exposing economies to new and more intense cyber vulnerabilities Mounting conviction for a fast but disorderly climate transition slowed by social, political and economic complexities Poor resilience of the supply chains Sluggish productivity growth Start-ups and small and innovative companies struggling to scale up and grow. R&D activity remains concentrated in a small number of large firms in a few sectors.
Recovery and Resilience plan Funding required - 1.5 billion Plan consists of 33 investments and 6 reforms. Funding requirement state that 37% of investments must be devoted to the climate transition and 20% to the digital transformation 59% of the plan will support climate objectives 25% of the plan will foster the digital transition. Required 0% 20% 40% 60% 37% 20% 59% 25% Required Actual
2% 11% 18% 34% 14% 6% 16% Seven Components in the Danish Recovery and Resilience Plan Strengthening the Resilience of the Healthcare System Green transition of Agriculture and Environment EnergyEfficiency, green heating and CCS Green Tax Reform Sustainable Road Transport Digitalisation Green Research and Development Source - Factsheet-on-the-danish-recovery-and- resilience-plan
Amendments to Denmarks Recovery & Resilience Plan Proposal to amend Denmarks original RRP by reallocating funds from green transition to digital Relocate 10% additional funding to digital strategy The move will provide an additional 66.5 M The additional funding to the established digital strategy and particularly Sub-reform 5 will ensure its successful implementation and increased productivity Source: www.dtu.dk
Influencing factors The current economic climate calls for crucial microchip research and development This poses a significant opportunity for Denmark to establish and build on available expertise and existing infrastructure Danish know-how in developing a pioneering microchip represents an important currency when it comes to the reliability of supplies of the billions of chips needed in a digital society. Facilities at the National Centre for Nanofabrication and Characterization (DTU Nanolab), Denmark have research, innovation, and product development under one roof. A future NATO centre for research in quantum technology is planned on Danish soil Rapid digitalization risks exposing economies to new and more intense cyber vulnerabilities, as new technologies and an ever- expanding attack surface enables a more dangerous and diverse range of cybercrimes Source: The Global Risks Report 2022
Benefits Predicted better return on investments through increased R&D, increased productivity, business and job opportunities, economic growth, and export potential within a high-tech niche area of the Danish corporate sector Future proofing the digital security Improving the public sector and services by focusing on productivity through digitisation Job creation - secure Danish high-tech and skilled jobs in the future Challenges Insufficient Digital Infrastructure Implementation of Digitalisation within businesses Lack of new technologies Better utilisation of data Limited digital skills and competencies www.dtu.dk
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Denmark Presentation .pptx

  • 1. DENMARK RECOVERY AND RESILIENCE PLAN PROJECT Presented By: Klaudyna O Connor 20094855 Belinda Hamilton 20079235 Evelinah Owalaye 20010599 Anju Ann George 20095909
  • 2. Denmark Profile Population: 5.8 million Capital: Copenhagen Official language: Danish Currency: Danish Krone One of the happiest countries in world UN World happiness report The Danish flag is the oldest in the world, dating back to 1219 Oldest monarchy in the world current ruler Margrethe 2nd Main imports equipment, chemicals, consumer goods and grains and foodstuffs Main exports Machinery, meat, fish, dairy products, medicines Parliament is called Folketinget First woman prime minister Mette Frederiksen
  • 3. Denmark Economy GDP per Capita in PPS 129 Expected impact of the recovery plan: between +0.4 % and + 0.6 % of the GDP by 2024* Current unemployment rate: 5.6% Public Debt (% of the GDP): 36.7% in 2022 EU trade 52% exports 69% imports *Commission forecasts and simulation Source: https://tradingeconomics.com/denmark/government-debt-to-gdp
  • 4. Denmark and the EU Denmark joined the European Communities (pre-EU) in 1973 along with UK and Ireland Under the Edinburgh Agreement 1992 national currency remained as Krone European parliament members 14 members Denmark has formal opt-outs from defence, economic and monetary union and justice and home affairs in the EU Source: Wivel, A., 2014. [online] Available at: <https://www.researchgate.net/publication/267097798_Denmark_and_the_European_Unio n> [Accessed 22 April 2022].
  • 5. SWOT Analysis Strengths Highly developed Welfare System High Socio-Cultural Order Ranks 2nd in the Climate Change Powerful Economy(high GDP per Capita) compares to its small geographical size. Leader in Innovation expenditure (2014- Up to 2018). ( CCPI-2022)./ (Source: C C index in 2022.) Weaknesses Excessive Household Debt Elevated House Valuations Small & Open Economy High Exposure to the UK & Brexit Loss of Competitiveness, mainly due to high Tax Burdens High amount of Regulatory Requirements Lack of sufficient progress in increasing ICT specials in the workforce and reducing the growing shortage of talent with advanced digital skills (Source: allianz-trade.com)
  • 6. SWOT Analysis Opportunities With the newly launched digital strategy for Denmarks Digital Growth, the country has a good foundation to remain at the forefront of digital development. Delivery of digital public services among EU countries. A future NATO centre for research in quantum technology is planned on Danish soil Threats Rapid digitalization risks exposing economies to new and more intense cyber vulnerabilities Mounting conviction for a fast but disorderly climate transition slowed by social, political and economic complexities Poor resilience of the supply chains Sluggish productivity growth Start-ups and small and innovative companies struggling to scale up and grow. R&D activity remains concentrated in a small number of large firms in a few sectors.
  • 7. Recovery and Resilience plan Funding required - 1.5 billion Plan consists of 33 investments and 6 reforms. Funding requirement state that 37% of investments must be devoted to the climate transition and 20% to the digital transformation 59% of the plan will support climate objectives 25% of the plan will foster the digital transition. Required 0% 20% 40% 60% 37% 20% 59% 25% Required Actual
  • 8. 2% 11% 18% 34% 14% 6% 16% Seven Components in the Danish Recovery and Resilience Plan Strengthening the Resilience of the Healthcare System Green transition of Agriculture and Environment EnergyEfficiency, green heating and CCS Green Tax Reform Sustainable Road Transport Digitalisation Green Research and Development Source - Factsheet-on-the-danish-recovery-and- resilience-plan
  • 9. Amendments to Denmarks Recovery & Resilience Plan Proposal to amend Denmarks original RRP by reallocating funds from green transition to digital Relocate 10% additional funding to digital strategy The move will provide an additional 66.5 M The additional funding to the established digital strategy and particularly Sub-reform 5 will ensure its successful implementation and increased productivity Source: www.dtu.dk
  • 10. Influencing factors The current economic climate calls for crucial microchip research and development This poses a significant opportunity for Denmark to establish and build on available expertise and existing infrastructure Danish know-how in developing a pioneering microchip represents an important currency when it comes to the reliability of supplies of the billions of chips needed in a digital society. Facilities at the National Centre for Nanofabrication and Characterization (DTU Nanolab), Denmark have research, innovation, and product development under one roof. A future NATO centre for research in quantum technology is planned on Danish soil Rapid digitalization risks exposing economies to new and more intense cyber vulnerabilities, as new technologies and an ever- expanding attack surface enables a more dangerous and diverse range of cybercrimes Source: The Global Risks Report 2022
  • 11. Benefits Predicted better return on investments through increased R&D, increased productivity, business and job opportunities, economic growth, and export potential within a high-tech niche area of the Danish corporate sector Future proofing the digital security Improving the public sector and services by focusing on productivity through digitisation Job creation - secure Danish high-tech and skilled jobs in the future Challenges Insufficient Digital Infrastructure Implementation of Digitalisation within businesses Lack of new technologies Better utilisation of data Limited digital skills and competencies www.dtu.dk