Ministry for the Economy Unveils Study on ‘Third Industrial Revolution’

Luxembourg’s Ministry for the Economy, in collaboration with the Chamber of Commerce and IMS Luxembourg, presented the strategic study ‘Third Industrial Revolution’ during the Luxembourg Sustainability Forum 2016.

Present at the presentation of this study were Deputy-Prime Minister and Minister for the Economy, Etienne Schneider, Carlo Thelen, managing director of the Chamber of Commerce, Michel Wurth, president of the Chamber of Commerce, Christian Scharff, president of IMS Luxembourg, and American economist Jeremy Rifkin.

Carried out by Jeremy Rifkin and his expert team, the strategic study aims to make the existing economic model more sustainable and interconnected for future generations by working with ICT, energy and transport as part of an intelligent network.

Representing all socio-economic sectors, the study actively involved more than 300 people throughout the year, taking part in work groups of nine to work on challenges concerning energy, mobility, construction, food, industry, finance, ‘smart economy’, circular economy and the ‘prosumer and social model’.

The results of the procedure are presented in a complete and detailed study of 475 pages which consider the socio-economic aspects of Luxembourg and propose concrete actions and tools which allow the country, its society and its economy to begin the process of the ‘Third Industrial Revolution’.

Following the presentation of the study and its results, the government will proceed under the coordination of Etienne Schneider, to have a large consultation among the main institutions like the Economic and Social Committee and organisations for young people like the Youth Parliament.

Furthermore, a national committee will be set up under Schneider’s responsibility to assure the general coordination of the process post-Rifkin. This council will be made up of representatives of the ministers involved in this revolution as well as representatives from Digital Letzebuerg and social partners.

Deputy-Prime Minister Etienne Schneider commented that “The results of the study constitute a general direction for future development of the country.”