Poland's President submits draft bill on launching Cutting-edge Technology Fund to parliament
On Friday, Poland's President Karol Nawrocki signed and submitted to the lower house of Polish parliament Sejm a draft bill on the establishment of the Cutting-edge Technology Development Fund (FRTP), which is to have PLN 5 billion (EUR 1.2 bln) in annual funding at its disposal.
The establishment of the Cutting-edge Technology Development Fund was one of the points in Nawrocki's programme during the election campaign before the last presidential elections.
"The bill refers to a specific capital of PLN 5 billion per year for the Cutting-edge Technology Development Fund. I consistently believe in tightening up the tax system, VAT, CIT, excise duty, and thus the efforts of the entire political class of the Polish government as well," Nawrocki said.
"It is worth remembering that this amounts to as much as PLN 45 billion (...). Allocating PLN 5 billion to a technological revolution is not a great financial effort (...). Every investment in new technologies, research and development brings four or even seven times the return," he added.
The Fund is to be divided into five sub-funds: research and development, cyber security, modern administration, support for an innovative economy, and education and promotion.
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