2024-03-24 10:06:12
The European Union is losing its economic competitiveness – this is the conclusion reached by the majority of German entrepreneurs according to the results of a new survey conducted by the industry lobby DIHK. Bloomberg agency writes about this, Day.Az reports with reference to Gazeta.ru.
According to the study, 56% of the 3,000 German companies surveyed felt that the attractiveness of the EU as a place to do business had declined over the past 5 years, with only 7% seeing improvements.
“Despite an initially good starting position, Europe risks losing its competitive advantage on the international stage. This trend must be stopped immediately,” said DIHK Managing Director Martin Wanslben.
Manufacturing companies are particularly critical: two-thirds believe business conditions have worsened in recent years due to rising costs, mainly high energy prices. Additional factors for the negative assessment were excessive bureaucracy and trade barriers.
“We need to determine which bureaucratic procedures can be simplified and speeded up,” German Deputy Economy Minister Franziska Brantner said Tuesday when asked how to improve Europe’s competitiveness.
According to her, the next European Commission must deal with the integration of the single European market, which “is not good enough yet.”
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