PH Micro, Small and Medium Enterprises Urge To Achieve Inclusive Growth


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inclusive growth

In the Fourth Industrial Revolution,  science, technology and innovation capacities in the Philippines, particularly the micro, small and medium enterprises (MSMEs), should be strengthen in order to achieve inclusive growth.

Fourth industrial revolution, is the major revolution era since 18th century. It mainly characterized by digital revolution.

As cited in the report, “technology owners and generators, investors, government, end-users and other stakeholders are urged by Ferdinand Ferrer, chairman of Science and Technology Committee of the Philippine Chamber of Commerce and Industry (PCCI) to collaborate to develop technologies, and create and sustain the country’s innovation ecosystem”.

Ferrer stated that “our economy is already among the fastest growing in the Asean (Association of Southeast Asian Nations) region”. He deemed to be in step with this disruption brought about by the Fourth Industrial Revolution so, Philippines won’t be left behind again.

Moreover, the development and proper application of new technologies is substantial to achieve sustainable and  inclusive growth, especially in making Philippines as a middle and high income country.

Ferrer also emphasized that these advancement can also boost the competitiveness of MSMEs.

On a higher note, report noted that “Ferrer had underscored the crucial role of Technology Application and Promotion Institute (Tapi) of the Department of Science and Technology (DOST) in ensuring that the country has industry-appropriate technology that will bolster the agricultural, industry, services and advanced information technology (IT) development, and improve the quality of healthcare”.

“PCCI is committed on promoting awareness on new technologies and mechanisms to facilitate technology transfer, acquisition, and skills to use them effectively”, Ferrer added.

Source: Science, technology and innovation boosts inclusive growth


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An Agribusiness economist. I scribble more about agriculture, politics and economics.

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