Entrepreneurs’ Gala 2024: the food industry is among the priority sectors of the new industrial strategy

By: Trademagazin Date: 2024. 05. 10. 11:07

Knowledge-intensive sectors will play a major role in the economic policy of the coming years, the Deputy State Secretary responsible for the coordination of strategic affairs of the Prime Minister’s Office announced on Friday at the Entrepreneurs’ Gala 2024 event organized by the tender search company palyazatnekem.hu.

Ádám Csepeti highlighted that the research and development (R&D) rate of 1.6 percent of GDP in Hungary in 2021 has decreased to 1.3-1.4 percent due to the economic difficulties of recent years. The government is determined to make research and development expenditures as a percentage of GDP 3 percent in the coming years, he declared. He added that the current trend is that those who spend the most on R&D become the most innovative.

Hungarian economic policy should focus on supporting companies that are able to produce innovative, marketable products and services from scientific results and bring them to the international market, he emphasized.

He said that, in addition to the vehicle industry, the health and pharmaceutical industry, and the food industry, the production of raw materials, the creative industry and the IT industry have reappeared among the priority sectors of the new industrial strategy. He added that due to the geopolitical environment, significant investments are also being made in the defense industry. He noted that Hungarian entrepreneurs are encouraged to appear in defense industry supply chains.