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NFÜ to announce, MAG to manage HUF 74.6 bln in innovation tenders

National Economy Ministry State Secretary Zoltán Cséfalvay said in reply to an MP's question that the National Development Agency (NFÜ) will announce and the Hungarian Economic Development Centre (MAG) will manage HUF 74.6 billion worth of procurement tenders for research and development, as well as innovation.

About HUF 28.3 billion will be used to finance research and development, HUF 23.3 billion for technological developments, HUF 17.5 billion for cooperation in R&D, and the remaining HUF 5.5 billion for international cooperation in R&D.

Cséfalvay said it is a target to increase the proportion of R&D spending in Hungary to 1.8% of the GDP by 2020 from the current 1.14%. Funds must come from businesses, while all the state should do is "help", the state secretary added.