country’s competitiveness in question — EADaily, September 27, 2022 — Politics, Europe News

Rising energy prices are already threatening the competitiveness of the Austrian manufacturing industry. The Austrian Industrial Association and the Chamber of Commerce are calling for immediate intervention to offset the rise in energy prices, as this already threatens the existence of business and threatens Austria’s competitiveness as a manufacturing site.

In a joint statement, the Austrian Chamber of Commerce (WKÖ) and the Austrian Industrial Association (IV) called on the Austrian government and the EU to act more quickly to ease the burden on businesses due to high energy prices.

Chairman IV (Industriellenvereinigung) Georg Knilland chairman of the WKÖ (Wirtschaftskammer Österreich) Harald Marer called for swift action to balance gas price peaks and separate electricity and gas prices.

According to the heads of the Austrian economic representations, it would also be necessary to organize joint purchases of gas throughout the EU.

The necessary government tools for intervention are in place, they said, but they must be used as soon as possible. “We don’t have much time… Simplification of procedures should finally come to business. Without bureaucracy and, above all, quickly,” the Austrian industrialists urge.

Changes in energy prices already threaten the existence of many Austrian companies that are no longer able to produce on economic grounds. According to Knill, this could lead to the closure of companies or the transfer of production. This would threaten Austria with a decrease in competitiveness and general welfare.

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