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Hungary could double R&D spending with more business involvement

Pharma

Hungary could double spending on research and development by increasing the involvement of business, American Chamber of Commerce (AmCham) in Hungary chairman István Havas said at a press conference on Tuesday.

Havas said the global push to expand R&D capacity, as well as the good jobs it creates, presented a exceptional opportunity for Hungary.

AmCham has sent 47 proposals in four areas to decision-makers, he said.

Lajos Reich, who heads AmCham's innovation workgroup, said the proposals include ones to establish a tax strategy that reduces direct operating costs and is investor-friendly in the long term. They aim to make Hungary more competitive in the area of R+D and innovation, both in the region and the world, he added.

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