FM: Government supports investments in healthcare innovation

Péter Szijjártó, Minister of Foreign Affairs and Trade, said the Hungarian government continues to support investments in healthcare innovation. At the opening of the new center of biotech research company Patólogiai Innovációs Inkubátor in Budapest, the foreign minister said the British-Japanese-owned company’s investment, which is being supported with a 190 million forint (EUR 489,000) government grant, will create 20 research and development jobs. The company’s first project involves the development of AI-based medical equipment for quicker and more precise diagnosis of cancerous diseases and lesions. Hungary currently spends 1.6% of its GDP on R&D compared with less than 1% a decade ago, the minister said, adding that the sector employs more than 90,000 people.