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ITM: SUSTAINABLE ECONOMIC DEVELOPMENT HINGES ON SUPPORTING KNOWLEDGE, WORK-BASED ECONOMY

 

Last year’s achievements in innovation, higher education and vocational training form the foundations for strengthening Hungary’s knowledge and work-based economy, the Ministry of Innovation and Technology (ITM) said in a statement. RDI spending has been increasing steadily and reached 703 billion forints in 2019, and funding last year was more than twice the amount spent in 2010, the statement said. The jobs of 23,000 highly qualified professionals were saved thanks to an ITM scheme to provide a wage subsidy in the RDI sector, and new employees can apply for wage subsidies from January this year. The ITM has provided 10 billion forints (EUR 27.9m) for R&D projects that underpin health protection, the statement said. More focus is on putting scientific research to practical use and intensifying university-business cooperation, it said. Fully 17 national laboratories and a research centre started to get off the ground last year. Also, the government is promoting conditions conducive to a more competitive and modern education and vocational training system, the ITM said.