In order to raise the standard of living, Slovakia must find the courage to invest in new areas. This was said at the annual meeting of the National Committee of the International Chamber of Commerce Slovakia former chairman of the Slovak Academy of Sciences Pavol Šajgalík.
“In my opinion, the problem is that we have preserved a certain economic model, a model of support for the private sector, which is essential to make the country produce products with higher added value,” He said Šajgalík.
According to him, prosperity brings innovation. He stressed that Slovakia has compared to neighboring states such as Austria, Hungary or the Czech Republic the lowest innovation factor of 72 % of the EU average. The innovative factor of Austria is 127 and it is similar to Ireland, and it is countries that undergo the same transformation in innovation as Slovakia.
