AmCham: innovation is a key determinant of a country's competitiveness

Research&Development&Innovation (R&D&I) are the key factors that basically determinate a country's competitiveness – emphasized Havas István, chairman of the American Chamber of Commerce (AmCham) operating in Hungary at Tuesday’s press conference in Budapest.

He said that they formulated forty-seven proposals in four important areas and submitted these proposals to the decision-makers. The chairman called a special opportunity for Hungary to re-build its Research&Development&Innovation capacity and to create high value-added jobs.

By taking their proposals into account and with the stronger involvement of the corporate sector, R & D expenditures in Hungary could be doubled – told the chairman.

Nowadays research-development and technological progress, ultimately technological innovation has undoubtedly become the engine of development in advanced economies. Therefore it is essential for the private sector to be able to conduct research and development independently, and to create innovative products where innovation is determined by social, that is, market forces rather than the provisions of the state subsidy.  (MTI)