British billionaire Jim Ratcliffe accused the EU bureaucracy of scaring investors and forcing companies to invest outside the bloc. writes about this Finance Times.
Ratcliffe, chairman of petrochemical group Ineos, admitted in an interview with the publication that he would not have invested 4 billion euros in Belgium if he had known about the bureaucratic obstacles in advance.
He said the EU’s Green Deal, designed to decarbonise the bloc’s economy, should also take into account the importance of supporting industry.
“If it’s this hard in Europe, you’ll go to America, China or the Middle East and build new capacity there,” Ratcliffe said.
Four years ago, Ineos announced plans to invest €4 billion in the construction of a new petrochemical plant in Belgium. However, the project faced numerous permit and legal problems.
“Unfortunately, getting permission was a nightmare… This clearly does not encourage others to invest in Europe,” the businessman said.
Before that, one of the world’s largest oilmen I changed my mind Invest in Europe.
Previously in Germany stated It’s about employers’ loss of trust in government.