14 August 2013 15:42 [Source: ICIS news]
LONDON (ICIS)--Germany’s chemicals and pharmaceuticals industry aims to expand its research and development (R&D) budget to €10bn ($13bn) this year, industry trade group VCI said on Wednesday.
The increase would come after the industry’s R&D budget reached a record of €9.6bn in 2012, rising 6% from 2011, the Frankfurt-based group said.
The chemicals and pharmaceuticals industry accounts for 17% of overall German industrial R&D spending, ranking third after the automotive and electronics industries.
The country's chemicals and pharmaceuticals industry employs about 43,000 people in R&D, or about 10% of its overall workforce, VCI said.
Internationally, Germany's chemicals and pharmaceuticals industry R&D spending ranks fourth after the US, Japan and China.
However, VCI warned that Germany needed to keep improving conditions for R&D in order to maintain its international competitiveness. The group called, in particular, for tax incentives to promote R&D.
It also said that Germany’s energy R&D should be completely funded out of the federal government budget in order to help the country’s planned transition to renewables ("Energiewende") succeed.
($1 = €0.75)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections