In an international environment marked by slowing growth, increasing regulatory fragmentation, and rising geopolitical complexity, the General Assembly of Business at OECD has once again placed on the table a simple yet powerful idea: to grow, innovate, and invest, we need regulatory environments that are simpler, more coherent, and more predictable.
During the annual meeting with Matthias Cormann, OECD Secretary-General, and the ambassadors accredited to the Organisation, the message from the business community was clear. In recent years, rules, reporting obligations, divergent national requirements, and increasingly demanding administrative procedures have multiplied.
Many of these measures pursue fully legitimate objectives, such as advancing digitalisation, promoting sustainability, or strengthening economic security. However, when they are not properly coordinated, they generate unnecessary costs, increase uncertainty, and create frictions that ultimately damage competitiveness.
The strategic role of the OECD
The OECD is not merely a forum for debate. It is a generator of international standards, a space for regulatory convergence, and an institution capable of providing technical evidence and coherence in an increasingly fragmented global environment. For companies operating across multiple jurisdictions, such as Telefónica, this role is strategic.
With its “Cutting Complexity” approach, Business at OECD proposes moving towards smarter regulation evidence-based, systematically evaluated to remove rules that no longer serve their purpose, proportionate to risk, and better coordinated at international level. The objective is not to deregulate, but to regulate better by simplifying existing frameworks.
A simplification agenda to boost growth, productivity, and competitiveness
Special relevance is attributed to the fiscal domain, as simplification is considered essential for implementing a global minimum tax. Reducing duplications, clarifying criteria, and strengthening legal certainty are key so that businesses can plan long-term investments. The OECD, through its fora and inclusive frameworks, provides precisely the technical space needed to harmonise approaches and avoid divergent interpretations.
The same logic applies to the digital sphere. The connected economy requires interoperability and data-driven economic assessments aligned with market realities, as well as coherent rules on data flows, cybersecurity, artificial intelligence, the evolution of the connectivity ecosystem, network resilience, edge cloud, and sustainability reporting. Without effective coordination, there is a risk of drifting towards fragmentation that hinders network deployment, digital service provision, and technological innovation. The OECD offers a platform for governments and companies to align principles and design compatible frameworks across sectors and countries.
Moreover, at a time of increasing state intervention, investment controls, and trade measures, the OECD plays a central role in defending a rules-based economic system and open markets. For companies, this translates into predictability, legal protection, and an environment where cross-border investment remains a driver of growth and employment.
For Telefónica, participating in this dialogue is not ancillary but part of its commitment to a more coherent and effective global governance. The company was represented at the Assembly by Idoya Arteagabeitia, Director of Corporate Regulation at Telefónica, and by Paloma Villa, Head of Digital Public Policy and Vice-Chair of the Business at OECD Committee on Digital Economy, whose involvement reinforces Telefónica’s active engagement in international debates on digitalisation, tech regulation, and competitiveness. Their presence reflects the company’s willingness to contribute; drawing on the practical experience of a global operator; to public policies that foster innovation and reduce unnecessary complexity.
Ultimately, in a world that is more interconnected yet increasingly fragmented, the OECD stands out as an anchor of institutional stability. For businesses, its value lies in providing legal certainty, promoting regulatory interoperability, and offering a structured space for public–private dialogue that enables the anticipation of impacts and the design of better policies.
Reducing complexity is not merely a technical matter; it is an essential condition for driving investment, productivity, and sustainable growth.
