Brussels: Márton Nagy, National Economy Minister, emphasized the urgent need for a “competitiveness turnaround” in Europe. He highlighted this necessity ahead of a meeting of European Union ministers responsible for competitiveness, scheduled to take place in Brussels on Thursday.
According to About Hungary, Minister Nagy pointed out that the United States and China have been investing significant fiscal resources into digital and green transitions. He warned that if the European Union does not take similar steps, the competitiveness gap with these global powers will continue to grow.
The Competitiveness Council meeting on Thursday will bring together ministers responsible for the internal market and industry. The central focus will be on the future of European competitiveness and efforts to streamline regulations to reduce bureaucracy. Additionally, discussions will cover key sectors, including the European automotive and battery industries and the biotechnology sector.
