Innovation-Important driving force for regional economic growth
PSNews- Innovation might not be limited to technological but also to non-technological elements, which remains entwined with a complex and broad range of areas such as foreign direct investment (FDI), financial markets, education systems, research and development (R&D), regulatory systems, intellectual property rights (IPR), taxation.
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| Minister of Industry and Trade Tran Tuan Anh |
The statement was made by Minister of Industry and Trade Tran Tuan Anh at the APEC Symposium on Trade and Innovation on May 19 in Hanoi.
As said by Minister Tran Tuan Anh, Innovation, generally understood as “the improvement or creation of products, processes, services, business, or organizational models” is expected to become the central driver of economic growth thanks to enhancing business’s competitiveness at grass-roots level, and broadly speaking, the economies’ advantages and competitiveness.
Being aware of both opportunities and challenges that innovation results in, APEC member economies have made great efforts in pursuing innovation to foster sustainable and innovative growth.
In 2014, APEC Leaders have declared the APEC Accord on Innovative Development, Economic Reform and Growth that underscores innovative development through promoting cooperation in science and innovation; facilitate voluntary transfer, dissemination and commercialization of technology; promote the use and commercialization of intellectual property and ensure IPR protection and enforcement; improve the environment for innovation; etc.
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Also, the 2015 APEC Strategy for Strengthening Quality Growth reiterates innovation as one of most important drivers of economic growth in the APEC region.
In that spirit, the APEC Symposium on Trade and Innovation today is organized with the objectives of sharing experiences in promoting trade and innovation among APEC member economies; creating a platform for open dialogues between APEC Trade Ministers and business representatives on the nexus between trade and innovation; as well as to explore activities that APEC can undertake in order to promote innovative growth in the region. I would like to encourage all the speakers and delegates to actively engage in exchanging ideas and sharing experiences in promoting trade and innovation.
