Nagy: Europe needs a ‘competitiveness turnaround’
Minister Nagy said the EU needed to catch up with the US and China if it didn't want the competitiveness gap to widen further.
Márton Nagy, National Economy Minister, said Europe needs a “competitiveness turnaround”.
Speaking ahead of a meeting of European Union ministers in charge of competitiveness in Brussels on Thursday, Minister Nagy said the United States and China were ploughing large fiscal resources into the digital and green transitions, and the EU needed to catch up if it didn’t want the competitiveness gap to widen further.
At the Competitiveness Council on Thursday, ministers responsible for the internal market and industry will discuss the future of European competitiveness and better regulation to reduce bureaucracy. The European automotive and battery industries and the biotechnology sector are also topics on the agenda.
