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Friday, June 05, 2009


National Economic Development Authority (NEDA) Deputy Director-General Margarita Songco stressed the importance of technological innovation not only in business but more importantly in national development. She spoke on behalf of Socioeconomic Planning Secretary Ralph G. Recto at the recent Philippine Business Development Summit 2009 held at the Asian Institute of Management, Makati City,

         "Technological innovation serves as the cornerstone of social and economic development...I believe that we will not be able to achieve our goal of stamping out poverty and bringing prosperity to the greatest number of Filipinos without innovations in science and technology," Songco said.

She also highlighted the value of technology transfer, explaining that "it is a process for conceiving new applications for existing technologies, and a means of converting research into commercially viable products and enterprises, thereby paving the way to economic growth and development".

Songco said that in the Medium-Term Philippine Development Plan (MTPDP) 2004-2010, government research and development and technology transfer activities focus on five areas: biotechnology, information and communications technology, environment, alternative energy, and health products. She noted that "these areas have a high potential impact on poverty alleviation and the attainment of the Millennium Development Goals".

The NEDA official cited key government efforts in support of technological research and development including the Filipinnovation strategy, the Small Enterprise Technology Upgrading Program (SETUP), the Technology Innovation for Commercialization (Technicom) and the NEDA Knowledge Emporium.  
Finally, she called on entrepreneurs, venture capitalists and IT consultants to lead in technological innovation.

"I can assure you that government is doing its best to provide an enabling environment for 'technopreneurs' to flourish, but innovation will have to come from you," Songco said.

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