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Economy & Policy

CEE highly significant in EU economy

CEE highly significant in EU economy

According to a report from the German-Hungarian Chamber of Industry and Commerce (DUIHK), technological change could give the CEE region more significance in the success of the EU’s economy over the coming years. 

During an event organized by DUIHK, Netzwerk Digital and United Europe, László Palkovics, Minister for Innovation and Technology, said it is thanks to the use of modern technologies and high value-added investments that the Hungarian economy has continued to grow in spite of a global slowdown.

Palkovics said not only are the investments brought to Hungary high in value, but so is the value added of the production that comes with them.

The minister added that more and more research and innovation centers were being set up across the country. He welcomed that with Brexit approaching, startups were finding Hungary to be an increasingly attractive investment destination.

Palkovics said improving the RDI sector in Hungary means facing challenges in finance, the parallelism within the research network, the level of cooperation between the players and the coordination of applied and basic research. 

The minister added that the planned eight science and technology parks will play a key role in the future to improve the RDI environment, but the government will also pay close attention to the modernization of vocational and adult education.

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