Neda: PH should invest more in science and technology

By Edu Lopez

The National Economic and Development Authority (Neda) has stressed the need for the Philippines to increase investments in science and technology and innovation (STI) to boost the development of the micro, small and medium enterprises (MSMEs).

Neda chief Ernesto Pernia. (Photo credit: euromoneyseminars.com)

Neda chief Ernesto Pernia. (Photo credit: euromoneyseminars.com)

“Increasing spending in science and technology, and innovation (STI), we can equip MSMEs with the technology that can create globally competitive products to meet the demands of the local and international market quality standards,” said Socioeconomic Planning secretary Ernesto Pernia.

Pernia also believes that science, technology, and innovation can support the manufacturing and industrial sectors to raise productivity, foster the creation of high-value products, and improve the quality of their products.

The Neda chief further said the government sees the potential of agriculture as one of the country’s major growth drivers.

“The government would put emphasis on science and technology (S&T), creating more jobs especially for our less skilled members of the workforce. With the help of S&T and research and technology, agriculture can be a lucrative industry that can foster food security in our country,” Pernia said.

“Farmers with access to different varieties of seedlings and soil typing will no longer fear for their crops in the face of adverse weather conditions. Fishermen with knowledge of sustainable fishery need not fear about their catch during the dry season when fish tend to go deeper into the ocean,” he added.

Pernia said the Neda is in full support of National Academy of Science and Technology’s resolutions that detail the ways in which the country can harness S&T and R&D for poverty and inequality reducing economic growth.

Promoting science and technology and the creative arts to enhance innovation and creative capacity towards self-sustaining and inclusive development has been included in the 10-point economic agenda of the Duterte administration.