OECD on R&D, innovation a timely reminder

Media statement Wednesday, 22nd August, 2007

OECD on R&D, innovation a timely reminder

The reminder from the OECD that we need to build capacity in R&D, transport infrastructure and broadband is timely and welcome, the Employers & Manufacturers Association (Northern) says.

"The OECD advice means we have to invest more in developing our scientists, engineers and those who teach them," said EMA's chief executive Alasdair Thompson.

"Equally the advice means investing in the business and educational infrastructure that will encourage innovation.

"New Zealand's investment in R&D needs to increase threefold to catch up with the OECD average. Building skills remains the top priority.

"The report says we have a solid framework for innovation but others have pointed out we are not so good at capitalising on research by making it profitable in global markets.

"So part of the infrastructure for innovation needed has to be in developing our managers, marketers and supply chain specialists.

"The tax credits for R&D announced in the last Budget will reassure government its on the right track, but business awareness of the tax credits has not registered nearly as much as it needs to.

"Government needs to promote them as widely as KiwiSaver; we will certainly be doing our bit for their start date next April 1st."

ENDS

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