Kwieciński: private sector invests too little in innovation

Vice-minister of development Jerzy Kwieciński said on Monday that the main factor holding Poland back from being an innovative country is the lack of private investment in this area. Speaking at a press conference after a meeting of the Council of Ministers, Kwieciński warned that Poland could fall into the so-called middle income trap unless more money is spent on R&D. He noted that only the production of products "with a high added value, with high profit margins, will help raise wages to the levels of the most developed economies."