Brussels, 18/10/2011 (Agence Europe) - Research and Development (R&D) investment by top EU companies increased sharply in 2010, the European Commission reported on Tuesday 18 October, in its latest EU Industrial R&D Investment Scoreboard, which shows a 6.1% rise. European companies are thus following the global trend. 2009 could be described as a “black year” for R&D, as investment throughout the world tumbled by almost 2% and by 2.6% in the EU.
The recent resurgence provides a contrasting picture of R&D investment, however. If the 6% increase is compared with the global average of 4%, there may be grounds for optimism on a possible breakthrough of the “innovation Union” promoted by the Commission. Yet any such confidence pales when one looks at R&D investment in those states which are in direct competition with the EU: in China, it rose by 29.5%, in South Korea by 20.5% and in Taiwan by 17.8%. The United States, too, which saw R&D investment fall by 5.1% in 2009, made a larger increase in 2010 - 10%. Well aware that the EU is still lagging behind, Research, Innovation and Science Commissioner Máire Geoghegan-Quinn said that “we have to improve conditions for business further”. However, the current uncertainty and fluctuation of the financial markets are certainly doing nothing to improve the environment for investment growth. The results for 2011 will be awaited with justified anxiety. (JK/transl.rt)