Recital 4

Given the foundational role of data in driving value-creation in the digital economy, and pursuant to the objectives of the Communication for a European Data Union Strategy, the amendments presented in this Regulation to the legislative framework regarding data seek to build a coherent and cohesive regulatory framework for the availability and use of data, streamlining and consolidating the data regulatory framework into only two legal acts, namely Regulations (EU) 2016/679⁵ and (EU) 2023/2854⁶ of the European Parliament and of the Council, from currently five different applicable acts. The amendments seek to cut unnecessary administrative costs and stimulate the availability of data as a prerequisite for supporting competitive digital businesses in the Union, while maintaining the highest standard of protections for privacy, personal data protection, and fair business practices, and ensuring core regulatory objectives, including compliance with EU and national competition law.