Virginijus Sinkevičius at the Krynica Economic Forum: The digital economy is Europe’s chance to avoid recession

Date

2019 09 04

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Minister of the Economy and Innovation Virginijus Sinkevičius, which is participating in the 29th Krynica Economic Forum, has said that Europe immediately needs a united and coherent digital policy in order to maintain its positions globally.

‘It is more difficult to maintain the positions of a champion than to become one, which means that the decisions we need to take are not easy. Yet, Europe’s key to success is a cutting-edge digital technology-based economy, which will increase competitiveness and help us resist global recession’, said Minister of the Economic and Innovation Virginijus Sinkevičius at the Forum’s  ‘Europe in the face of global rivalry’ plenary session.

According to Minister Sinkevičius, the growth and business development of the European single market must be based on innovation, digitisation and artificial intelligence. ‘Research and innovation are key drivers for growth and productivity in a strong and environment-friendly economy. It is therefore necessary to talk about additional investment in the development of research and innovation at both national and EU level, as well as about the establishment of a legal framework aimed to experiment with new ideas, technology and business models’, stressed the Minister.

The Minister considers it is essential to help the industry absorb new technology and business models, including the circular economy; moreover, the EU should facilitate the industrial transition to a climate-neutral economy. Therefore, according to Minister Sinkevičius, the next legislative cycle should focus on the digitisation of all policies.

At the Krynica Economic Forum, Minister Sinkevičius will meet the Polish Minister of Investment and Economic Development Jerzy Kwiecinski and Minister of Entrepreneurship and Technology Jadwiga Emilewicz.

This Economic Forum organised in Krynica since the 1992, has become the most influential gathering of  Central and Eastern Europe’s political elite and is known as the ‘mini-Davos’. This year’s 29th Economic Forum under the title ‘The Europe of Tomorrow. ‘Strong’ Meaning What?’ is mainly focused on issues and strategies related to the existence of the European continent during the coming decades so as to help European governments integrate into the global framework.