(Written by IPOPHL's former Deputy Director General Andrew Michael S. Ong)

INVESTING IN TECHNOLOGY DEVELOPMENT BY FRANCHISING PATENT INFORMATION SERVICES IN THE PHILIPPINES
by Andrew Michael S. Ong*

     There is a new optimism these days that the Philippines will finally shed off its image as the “sick man of Asia” because its economy is growing faster than most countries in the world[1], and it has just been given its first-ever investment grade rating which is expected to cause an upward trend of foreign investments to the country considering the slow and unstable recovery of advanced economies.[2] Analysts agree that the growth momentum is firmly supported by a robust domestic consumption and significant improvements in the manufacturing and services sectors, which is driven by Pres. Aquino’s governance reforms and anti-corruption measures. Thus, it may well be the golden opportunity for the country to play catch-up, narrowing the gap with its high-income neighbors and, perhaps, emerge eventually as a tiger economy. However, for this to happen, longer-lasting growth drivers need to be in place, together with sound macroeconomic fundamentals. More importantly, government must start investing in infrastructures, especially those required for innovation and technology development so that the country can compete in an increasingly knowledge-based economy. To become competitive, Philippine businesses can’t remain as technology consumers. As recognized by many development scholars, economic catch-up always requires technological catch-up. Without the latter, the economic lifeline of a country will be vulnerable.[3] Hence, Philippines must try to leapfrog its technology R&D capabilities, and the way to do it is by leveraging on global science, technology and engineering knowhow and work on producing differentiated products and services in the market.

Please read full article here: http://itsophilippines.blogspot.com/2013/06/investing-in-technology-development-by.html