October 23, 2018

MANILA – The government must continually advance investments in research and development, (R&D) and innovation initiatives to foster modern industry and agriculture, the National Economic and Development Authority said.

“We must pay greater attention to technology and innovation, human capital, global trade and investment for us to catch up with the current and future pace of modern economy,” Socioeconomic Planning Secretary Ernesto M. Pernia said in a press briefing with the Philippine-American Academy of Science & Engineering (PAASE), pertaining to Philippines’ ranking 73rd out of 126 countries in 2018 Global Innovation Index, and ways to improve its innovation rating.

During a meeting, the Philippine government and the PAASE tackled challenges faced by the science and technology (S&T) sector and ways to build globally-linked manufacturing and R&D in the S&T Innovation Ecosystem in the Philippines.

The Cabinet official also noted the need to make R&D activities and output accessible to micro, small and medium enterprises (MSMEs) to increase their productivity and competitive advantage.

“MSMEs are one of the country’s major economic drivers. With S&T, we are preparing our country for the future of production while taking advantage of the country’s growth momentum,” Pernia added.

He said that the meeting aims to link Philippine universities with R&D centers to become integral partners in industry research, and connect domestic MSMEs to the supply-value chain.

“We can overturn these shortcomings in this sector by working double-time on S&T and innovation-related collaborations among institutions such as government, industry, and the academe” said Pernia.