AMD CEO Hector Ruiz Advises Congress That Innovation, Competition Are Keys To Ensuring U.S. Competitiveness In 21st Century

AMD CEO Hector Ruiz Advises Congress That Innovation, Competition Are Keys To Ensuring U.S. Competitiveness In 21st Century

Innovation and competition are vital to U.S. competitiveness in the 21st century, said AMD (NYSE: AMD) Chairman and Chief Executive Officer Hector Ruiz in testimony before the U.S. House of Representatives’ Committee on Government Reform today.
“Here’s the bottom line: You can’t have competitiveness without competition,” said Ruiz. “All the investment, research and specialized education in the world won’t amount to a growing, dynamic economy without competition.”

Ruiz continued, “Competition is the heart and soul of innovation. It’s what drives us to turn innovation into real advantages for consumers and citizens. That’s the key to U.S. competitiveness in the 21st century, and we have a responsibility to ensure that no one is sheltered from it.”

In his testimony, Ruiz outlined three keys to enhancing U.S. competitiveness. “First, fair and open competition is essential to our country’s competitiveness. Second, government procurement practices should act as a model for fair competition – obtaining the best possible technology for the lowest possible cost on behalf of taxpayers. And finally, investment in K-12 education is the best way to make sure that we have a competitive society – not just competitive economic sectors.”

Read the complete Press Release