The Mol Group is calling for tangible measures to restore Europe’s industrial competitiveness, warning in a statement on Wednesday that high energy costs, complex and burdensome regulations, and increasingly fragmented markets are threatening the continent’s long-term prosperity.
As the statement confirms, Mol Group proposes a minimum level of European competitiveness: a common framework that would establish the continent’s industrial policy based on clear principles. The proposal encourages an economic approach that focuses on growth and industry.
It points out that Europe needs practical and predictable rules, secure and affordable energy and raw materials, and a business environment in which companies can invest and compete on fair terms.
It also highlights the need to reduce bureaucracy and taxes, support and protect European manufacturers, and align industrial and climate goals with global realities, they write.
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The European competitiveness minimum defines nine key aspects that together could form the basis of a long-term European industrial strategy. The fundamental goal of any economic policy should be economic growth driven by stable financial performance in the corporate sector. Before implementing top-down regulatory measures, a detailed feasibility analysis (economic, social, technological) is needed. The daily security of supply of energy, raw materials, and key materials must be treated as a high priority. Energy prices, bureaucracy, and taxes must be reduced.
Among the considerations are that regulators should focus on complex ecosystems and value chains rather than just supporting specific areas, and that investment in key technologies and innovations should be supported. A strong and independent refining and chemical industry infrastructure is needed.
European manufacturers must be protected and support must be focused on the Made in Europe program.
More allies are needed, international climate policy measures must be integrated much more closely into EU regulations, and global realities must be faced. Realistic and flexible goals based on sound business principles and regional characteristics are needed, in the view of Mol Group.
György Bacsa, Mol Group’s group-level strategic managing director, emphasized that Europe’s prosperity and independence depend on a strong industrial base and closer cooperation between political decision-makers and the business sector.
As one of Central and Eastern Europe’s leading industrial and energy companies, the Mol Group remains committed to contributing to Europe’s long-term competitiveness and sustainability. Through continuous investment and cooperation, it is working to strengthen Europe’s industrial and energy base and ensure that the region remains competitive and secure in a changing world, the statement said.
Via MTI; Featured image: MTI/Hegedüs Róbert
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