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Palace welcomes PH jump in 2020 global innovation index

Published Sep 3, 2020 11:53 am

Malacañang welcomed the Philippines' inclusion in the 50 most innovative economies index after it jumped from the 54th spot to the 50th.

Communications Secretary Martin Andanar made the statement after the Philippines’ innovation ranking went up by 4 places, reaching the 50th spot out of 131 participating economies in this year’s Global Innovation Index (GII).

Communications Secretary Martin Andanar
(PCOO / FILE PHOTO / MANILA BULLETIN)

In a statement, Andanar said the Palace welcomes the publication of the 13th edition of the Global Innovation Index on September 1, saying the report attests to the effective collaborative work of government agencies and other stakeholders in driving the Philippines’ inclusive, sustainable, and dynamic economy.

This international recognition affirms the success of our national innovation policy and highlights our country’s solid economic fundamentals.

The report cited the Philippines as a country whose performance exceeds expectations for its level of economic development and whose innovation ranking has significantly progressed over the last ten years alongside China, Vietnam, and India.

According to Andanar, the country continues to leverage, improve, and invest in research and development, digitalization, and human resources, consistently giving importance to economic competitiveness and innovativeness.

"We deem it necessary to create an atmosphere of innovation conducive to the development of a healthy ecosystem of businesses, regulators, and innovators," he said.

Andanar noted that the country has passed two landmark acts: the Innovative Startup Act which seeks to foster an innovative entrepreneurial culture in the Philippines, and the Philippine Innovation Act which creates a cross-sectoral National Innovation Council and introduces the use of metrics like the GII as an objective tool for tracking progress.

"The country’s strengthened framework for innovation governance, as recognized by its improved ranking in the GII, is expected to sustain the momentum for growth and anchor prospects for sound economic recovery in the wake of the COVID-19 pandemic and to contribute to the government’s overall goal of uplifting the lives of millions of Filipinos," he said.

Andanar assured the public that the Philippines will continue providing an "enabling and nurturing environment for innovators", including MSMEs, and further enhance its partnership with international organizations such as the World Intellectual Property Organization.

READ MORE: Philippines leaps to 50th spot in Innovation Index

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