IN BRIEF: Intel’s Chairman Believes Technology Will Help to Recover from Recession

Craig Barrett: High-Tech Industry – Key to Economic Recovery

by Anton Shilov
03/13/2009 | 07:52 PM

The chairman of Intel Corp., Craig Barrett, said that the high-tech industry will indisputably recover from recession and will also help the whole economy to recover. Nevertheless, government stimulus packages are also tremendously important despite of the fact that no one knows their effects for sure.

 

“Everybody's looking for some sort of strengthening going on to 2010 [in the high-tech industry]. Frankly, that depends on the stimulus packets that the governments are running. If you can find a government official that can guarantee the outcome of a stimulus package, let me know. I don't think they know,” said Craig Barrett in an interview with Reuters news-agency.

Since high-technology products enable more efficient work of staff in other industries, it may recover quicker than the rest. However, some actions from the government are still required.

Many high tech firms met with U.S. lawmakers on Wednesday to argue for more visas for skilled workers and against a plan to tax corporations on profits made overseas.

“We're not going to pick up and move but you are adding a disincentive (to invest in U.S. facilities) with this sort of tax policy,” said Mr. Barrett.