Monday 20 May 2013
Mexico City.- Mexico is below average among countries members of the Organization for Economic Cooperation and Development (OECD) in investment in science and technology, a report from OECD states. In the report, OECD says that public and private investment in research and development is low as a percentage of Gross Domestic Product (GDP). “Expenses by both pubic and private sectors are low as a percentage of GDP, 0.25% and 0.18% respectively for 2009 figures”, the study shows.
According to OECD, the lowest gross domestic expense is made by Turkey, with 0.85%, unlike Korea with 3.6%, Finland with 4% or Israel with 4.3%.
“Innovation should be fostered to encourage productivity and create new growth sources”, OECD recommends.
According to the report, limitations for innovation and deficiencies in the sector’s legal framework, among others, explain the weak investment on science and technology in Mexico.
In addition to private and public investment in the sector, Mexico is way back in patents integration, proceedings to expedite opening small and medium companies (SMC’s), and the number of post-graduate degrees in science and engineering.
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