- MOL Group warns high energy costs and regulatory complexity threaten Europe's industrial competitiveness.
- The European Minimum for Competitiveness proposes nine key considerations for a long-term industrial strategy.
- Key proposals include reducing energy costs, bureaucracy, and taxes, and supporting 'Made in Europe' initiatives.
- MOL Group emphasizes the need for a strong industrial foundation to ensure Europe's prosperity and independence.
Call for Action
MOL Group urges Europe to implement tangible measures to restore industrial competitiveness, citing high energy costs, regulatory complexity, and fragmented markets as threats to long-term prosperity. The company advocates for a European Minimum of Competitiveness to guide coherent EU-level industrial policies.
European Minimum for Competitiveness
This proposed framework aims to anchor Europe's industrial policy in clear principles, focusing on growth and industry. It emphasizes the need for practical and predictable rules, secure and affordable energy and raw materials, and a fair business environment for investment and competition.
Key Considerations
The framework outlines nine key considerations, including prioritizing economic growth, conducting feasibility analyses before regulatory measures, ensuring energy and material supply security, reducing energy costs, bureaucracy, and taxes, and supporting complex ecosystems and value chains.
Strategic Objectives
MOL Group highlights the importance of protecting European producers, directing subsidies to the "Made in Europe" program, integrating international climate policy measures, and setting realistic and flexible targets based on business cases and regional specificities.
Conclusion
György Bacsa, MOL Group's Chief Strategic Officer, stresses that Europe's prosperity and independence rely on a strong industrial foundation and closer collaboration between policymakers and businesses. He emphasizes that a robust industrial base is crucial for Europe to shape its future.
