BUCHAREST, June 12 (Xinhua) -- Closing the gap between Romania and Western Europe and the further modernization of the country depend on investment in innovation, Romanian President Klaus Iohannis said on Tuesday.
"Romania faces the challenge of reducing the economic and social gaps still separating it from Western Europe," Iohannis told the "We are inventing the future! Our bet on science!" conference at the Royal Palace.
"The modernization of Romania over the next decades depends, to a decisive extent, on investment in innovation that will lead to the development of a knowledge-based economy able to smartly and sustainably exploit the technological challenges of the future," Iohannis said.
Particular attention should be paid to the stimulation of major projects in strategic areas and high added-value, he stressed.
He cited the development of the Magurele Science Park in southwestern Bucharest, which marks a very important step forward toward increasing the connectivity between academia and the private sector and will bring a number of benefits to both the local community and the whole country.
The president added that research is indispensable to any strategy for sustainable economic growth and "increasing the absorption of European funds, as well as private investment, are a necessity for Romania if it is to develop its research infrastructure".
