While the country has demonstrated remarkable resourcefulness, its progress remains constrained by limited resources, particularly in critical areas such as research and development .The country’s fifth-place ranking in the 2022 Global Innovation Index underscores its potential for innovation. However, the glaring gaps in R&D investment compared to regional counterparts like Vietnam and Thailand reveal a pressing need for strategic action. With only 0.
These gaps are troubling, as investment in R&D and innovation is vital for long-term economic growth and improvement in living standards. The Philippines has demonstrated an impressive ability to “do more with less” when it comes to innovation, but this resourcefulness can only take the country so far. Meaningful progress will require substantial, sustained increases in funding and resources dedicated to research, development, and commercialization of new technologies.
To achieve the target of improving its global innovation ranking to 34th by 2032, the Philippines must prioritize substantial increases in R&D investment. This necessitates a concerted effort from the government to allocate greater resources towards research, technology development, and innovation initiatives.