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Manila Bulletin devider Opinion devider Innovation for a strong economy

Innovation for a strong economy

Published Aug 13, 2023 04:07 pm

#MINDANAO

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The recent appointment of the members of the National Innovation Council (NIC) highlights the groundbreaking Republic Act 11293, otherwise known as the Philippine Innovation Act which was signed into law in 2019.


Among the salient points of this law is harnessing innovation to drive inclusive development and economic growth, and the adoption of a whole-of-government approach in implementing innovation across various agencies and areas. 


Toward this, the law prescribes the creation of an Innovation Fund and the National Innovation council composed of government and private sector representatives.  These measures, among others, will help drive the development of innovative technologies and modes of governance.


Innovation is key to a strong inclusive and sustainable economy. It adds value to things we produce, and enables competitiveness since it allows producers to develop new products and services to meet new needs and demands.  We need innovation for our economy to prosper.


Through innovation, local enterprises can produce more innovative products that can reach a wider market, gain more customers and allow them to expand. The more these enterprises expand, more job opportunities are created for the local population. 


This innovation-driven economic expansion and new innovative investments can absorb the new crop of graduates. This will enable them to have better jobs. We need to promote investments in job-generating economic sectors such as manufacturing to absorb these graduates.


Innovation is especially crucial in areas where faster and broader economic growth is needed. The law can foster a culture of innovation in the development of products and services. It is clear that driving innovation is crucial for our continued growth. It is imperative that enterprises be more innovative to compete and grow.


How can this be done? Let me offer some suggestions.


First, the state can deploy incentives and programs to make it easy for economic enterprises to innovate.


Secondly, government’s research resources through its specialized institutions such as those under the Department of Science and Technology (DOST), and the Philippine Council for Agriculture, Aquatic and Natural Resource Development (PCARRD), along with those of State Colleges and Universities, can be shared with industry.


Third, our state-owned manufacturing enterprises can use innovative technologies developed in the schools or research institutes of government. These can be put to rigorous testing at the factory floor to see just how scalable these technologies are. A case in point is our Government-Owned and Controlled Corporations (GOCCs). Improved processing techniques can help make these companies produce more and do so cheaply and sustainably.
Another is the agribusiness cooperatives supported by the government. These can benefit from new technologies such as, processing techniques and equipment to food and nutritional supplements from vegetables.  This makes the vegetable value chain wider, creating more rural employment in the process.  Better processing technologies reduce wastage and enable farmers to earn more income from higher harvest and processing volumes even as the price per kilo of harvest may go down due to higher yields or increased post-harvest efficiency.


To accelerate innovation in these three areas, digitalization will be needed. This allows knowledge to be spread. This includes results of innovation practices and the results of implementation. Moreover, digital tools expose local companies to more markets. Digitalization harnesses innovation even more fully when even newer knowledge is applied.


All of these innovations, when consolidated and promoted at the regional level for local enterprises through the Regional Research innovation and Development Committees of the Regional Development Councils, can boost local development. Let us all work together to make this happen.
 

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John Tria
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