Flanders among Europe’s leaders in innovation

28 August 2018

In 2016, Flanders invested a record amount of EUR 6.7 billion in research and development, representing 2.7% of GDP The gross domestic product (GDP) is the total monetary value of all goods and services produced within a country, both by companies and the government. This term is usually used as a benchmark for a country’s prosperity. This is why the N-VA closely follows the evolution of the Belgian GDP. GDP . This means that Flanders is doing far better than the European average of 1.94%. Flemish Minister for Innovation Philippe Muyters is pleased with the strong average, but is setting even more ambitious goals. “The target of achieving the 3% standard by 2020 still stands,” he says.

Clear strategy

The record amount of investments also translates into a large increase in the number of jobs in research and development, which have increased by over 50% in ten years’ time. This number will continue to increase in the coming years. “The investments are accompanied by a clear strategy to work with simple structures, which increases their return. Research and development remain a priority for the Flemish Government. That is good for our economy, our prosperity and our society,” Minister Muyters concludes.

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