OECD warns that innovation in Chile remains "limited" and calls for boosting investment in R&D

The organization maintained that business spending on research and development reaches only 0.3% of GDP and warned that technological innovation in Chilean companies remains below the average of the bloc. The Organization for Economic Cooperation and Development (OECD) warned that innovation in Chile continues to be "limited" and recommended that the country more forcefully encourage business investment in research and development (R&D) to improve its competitiveness. In the first edition of the report Fundamentals for Growth and Competitiveness, the organization maintained that business spending on R&D in Chile remains low and barely reaches 0.3% of GDP. In addition, it indicated that only 17% of companies reported having introduced technological innovations, a figure that represents less than half of the OECD average. The report also questioned the way public support for this subject is executed. According to the organization, the programs to support R&D are fragmented, present ...