Increasing the competitiveness of the European economy requires a policy focus on the industry and supporting the green and digital transition. Achieving competitiveness in the industry is among the conditions for increasing prosperity for all citizens of Europe. The Minister of Economy and Industry Dr. Petko Nikolov said this during his speech in the first of its kind discussion in Bulgaria on the Draghi report, organized by the Bulgarian Federation of Industrial Energy Consumers (BFIEC) and the Green Transition Forum. Representatives of institutions, business, and experts took part in the discussion “The Draghi Report – the new economic policy of the EU and the prospects for Bulgaria.”
Minister Nikolov emphasized that the messages in the report regarding energy plans and the future development of the industry are key. “We believe that the industry should rely on European support in the complex processes of decarbonization of enterprises, and where technologies have reached their limit, the activity of the industry should be supported through regulatory changes,” he said.
According to his words, the overall assessment of the Ministry of Economy and Industry for the Draghi report is positive. “The three outlined areas for action to achieve sustainable growth – addressing the innovation gap, implementing a collaborative plan for decarbonization and competitiveness, and increasing security and reducing EU’s dependencies – are adequate and timely, and we support the conclusion that urgent measures are necessary to significantly increase productivity and achieve growth,” the Minister of Economy emphasized.
“Our position puts on the agenda measures and decisions which, although included in the report, need reconsideration and additional analyses in order to respond to realities both in key sectors and in the context of Bulgaria,” he added.
In his statement, Minister Nikolov pointed out that energy prices in the EU are high and deter investments, and climate goals are difficult to achieve in the medium term for enterprises in energy-intensive sectors. “To turn the energy transition into an opportunity, the EU must synchronize all its policies with climate goals and come up with a Joint Plan for Decarbonization and Competitiveness, which should include energy producers, clean technologies, and energy-intensive companies that find it difficult to reduce their emissions. Therefore, we support the key goals for creating such a decarbonization plan so that competitiveness is accelerated in an economically efficient way and energy costs for the consumers and the industry are reduced,” he added.
Dr. Nikolov also underscored that the Ministry supports the need for changes in the EU’s industrial and trade policy, which was highlighted in the report, with a focus on investments in innovations, clean energy technologies, and better coordination among member states. Dr. Nikolov said this is necessary to maintain the EU’s competitiveness in global markets and to increase the predictability and stability of funding directed towards innovations. “The reduction of energy prices, the securing of supply chains, and the strengthening of trade relations with key partners are of particular importance,” he underscored.