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Domestic biotechnology fares well in EU

Hungary’s biotechnology industry stands to receive about €50 million-€100 million in foreign direct investment in the next few years.

This investment will greatly help toward retaining its leading regional position in this segment, Ernő Duda, chairman of the Hungarian Biotechnology Association (MKSz) told Napi Gazdaság. He added that Hungary aims to become one of the top ten biotechnology countries in Europe by 2010. There are about 170 biotechnology companies in Hungary today, while another 50 companies are indirectly involved in biotechnology. This compares to only 29 in 2004. (Napi Gazdaság)