Increased investment in the blue economy will support economic, social and territorial cohesion and help bring jobs and growth to maritime regions. Many maritime regions are already using smart specialisation strategies to identify EU funding priorities and to further develop the maritime economy and foster blue growth. Yet while success stories exist, lack of funding from public and private sources means that the development of the blue economy is still limited. The Commission is therefore encouraging Member States and coastal regions to make best use of existing investment vehicles, including EU funds, to give the blue economy a boost.

Opening the conference 'Blue.invest - EU support to maritime regions', Commissioner Karmenu Vella stressed the need to entice investors to finance blue economy projects: "Until 2020, EU coastal regions could spend almost 7 billion euro just from the European Regional Development Fund and the European Maritime and Fisheries Fund….  Much will depend on the regions' ability to convince private and public operators to bet on the blue growth economy and invest in it – particularly in the emerging sectors that we know are 'this close' to blossoming, but need a little push."

Participants also shared examples of successful EU-funded projects, including in renewable energy, aquaculture, biotechnology, and skills and qualifications. Some of these projects are also included in a newly created EU project repository. Launched this week, the Commission-wide online database brings together examples where EU money has made a difference: in fisheries, maritime affairs and beyond.

The conference was organised by the European Commission in collaboration with the Conference of Peripheral Maritime Regions (CPMR). Over 200 representatives of EU coastal regions, blue growth stakeholders and EU institutions attended.

More information

Conference web page

Blue.invest – EU support to maritime regions Conference of Peripheral Maritime Regions (CPMR) - Speech by Commissioner Vella