MOL Group Presses Europe for New Industrial Agenda

Hungary's MOL Group called for tangible actions to restore Europe's industrial competitiveness, warning that high energy costs, regulatory complexity and burden along with the increasingly fragmented markets were putting the continent's long-term prosperity at risk, in a statement issued on Wednesday.

In the statement, the company advocated for a 'European Minimum of Competitiveness' a shared framework that would anchor Europe's industrial policy in a clear set of principles and advance an economic approach that puts growth and industry at its core.

"Europe needs rules that are practical and predictable, energy and raw materials that are secure and affordable, and a business environment where companies can invest and compete on fair terms," MOL Group said.

It also highlighted the need to reduce bureaucracy and taxes, support and protect European producers, and align industrial and climate objectives with the global realities.

György Bacsa, Group Chief Strategic officer at MOL Group, stated that Europe must move beyond debate and deliver tangible measures to safeguard its industrial base.

"Europe's industrial battery still works, but we need the right voltage to recharge it," he said at MOL Group's Annual Brussels Reception. "That means smarter policies, faster decisions and coordinated support to give European producers a fair chance to compete globally."