The National Economic and Development Authority (NEDA) is expecting the approval by Pres. Rodrigo Duterte of the Philippine Innovation Act that would boost the promotion of technological advancement and competitiveness of micro, small and medium enterprises (MSMEs).
“With science, technology, and innovation integrated into the national programs and plans — referred to as STI ecosystem — our MSMEs may integrate more easily into domestic and global supply chains. NEDA will be drafting its implementing rules and regulations (IRR) once the Innovation Act is signed,” said NEDA director-general Ernesto Pernia.
Pernia told a forum on sustainable development that Philippine Innovation Act will be a landmark legislation because innovation is an important driver of long-term growth, and that science and technology is key to making the Philippines a more competitive player in the global knowledge arena.
He cited the Philippine Development Plan (PDP) which specifically mentions the need to vigorously advance STI to readily respond to and thrive in the Fourth Industrial Revolution.
“This is why government is directing investments to not just physical infrastructure, but also human capital formation through quality health, nutrition, and education,” said Pernia.
“The government is taking small but consistent steps in its walk towards participative growth. This also shows that partnerships are a vital, if not fundamental factor in achieving economic growth that is both inclusive and self-sustaining.”
Pernia also lauded the passage of the Green Jobs Act that supports the creation of environment-sensitive jobs, and incentivizes businesses that use green technologies.
“Other policies consistent with inclusive practices include the Ease of Doing Business Act, the Community Empowerment through Science and Technology Program, One-Stop Lab, and One Expert Program that help local communities and micro-, small- and medium-sized enterprises (MSMEs) find gainful employment,” he said.
