Hungary’s Future Depends on Knowledge-based Transition

According to the Hungarian Association of Digital Companies (IVSZ), Hungary’s future depends on the knowledge-based transition. In its statement, the organization announced that, as a professional partner, it supports decisions that can make the country one of the region’s leading technology hubs.

The statement quotes IVSZ president Balázs Vinnai who said that failing to achieve a technological and knowledge-based transformation could cause a lasting competitive disadvantage for Hungary.

"If we do not increase productivity, strengthen domestic innovation capacity, and prepare society for the challenges of the digital age, we may gradually be pushed out of high-value-added economic processes," he said, adding that their strategic goal is for Hungary to be a shaper, not a follower, of the region’s technological development.

The region has a good chance of becoming the engine of Europe, and in this process, Hungary must take on a leading and decisive role.

The IVSZ points out that in the 21st century, only those countries that build their development on advanced technology and a highly skilled workforce will be capable of sustainable growth, higher wages, and a stable standard of living.

The organization’s position paper identifies four main areas of intervention: developing human capital, strengthening technological and innovation capabilities, ensuring modern digital infrastructure, and establishing a predictable strategic and regulatory environment.

A key issue is that education and adult training should be better aligned with the needs of the labor market, according to the organization’s 12-point manifesto. The goal is to strengthen science, technology, and digital skills, as well as the knowledge necessary for the use of artificial intelligence; to accelerate the technological catch-up of domestic SMEs; and to further develop the infrastructure upon which a modern economy can be built.