Romanian companies intend to increase R&D spending

Research and development spending in Romania accounts only for 0,49% of its GDP, this is the lowest rate in CEE. However, according to the 2014 Deloitte CE Corporate R&D Report, most of Romanian companies declare to increase their R&D spending over next years. Ahmed Hassan, Country Managing Partner Deloitte Romania, said that low spending is caused by lack of government incentives to encourage expenditure, as well as too much bureaucracy in the application process and concerns about the treatment of R&D spending by tax authority. Survey conducted among 330 companies in 10 CEE countries reveals that 57% of Romanian companies spend up to 3 percent of their turnover on R&D, more than 80% of respondents declare to spend more over the next 3 to 5 years. In the same time, none expect to decrease their R&D budgets. Survey results suggest that in the near future Romania will begin to build economy based on knowledge and skills. More on the survey can be found here.Tags: ,