World Bank Report Highlights Innovation as Key Driver of Growth in Central and Eastern Europe

A new World Bank report titled “Innovation Rising: Lifting Central and Eastern Europe’s Potential” highlights the critical role of innovation, technology adoption, and stronger research ecosystems in boosting competitiveness and long-term growth across Central and Eastern European countries. The report stresses that the region has made significant economic progress over recent decades, but future growth will depend on its ability to move toward higher-value, innovation-driven industries.

According to the analysis, countries in the region need to increase investment in research and development, digitalisation, skills, and collaboration between universities and industry in order to close the productivity gap with more advanced EU economies. Strengthening innovation systems is seen as essential for improving resilience, supporting green and digital transitions, and creating new opportunities for businesses and startups.

The report also underlines the importance of policies that encourage entrepreneurship, improve access to finance, and support the commercialisation of research results. By accelerating innovation and technology uptake, the region could unlock new growth potential while responding to global challenges such as climate change, demographic shifts, and increasing competition.

👉 Read the original report:https://documents.worldbank.org/en/publication/documents-reports/documentdetail/099030926155531784

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