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Support for the passage of innovation bill urged
Friday, 12 January 2018

A lawmaker has called for support for the passage of a legislation that will make innovation a driver of export competitiveness and economic growth.

Senator Win Gatchalian said Senate Bill No. 1355, or The Philippine Innovation Act, specifically promote the internationalization and participation in the local and global value chains of micro, small and medium enterprises (MSMEs).

“If you have any friends in the House of Representatives, please, talk to them about championing this measure in their chamber of Congress and together, we can achieve the ambitious vision for innovation, MSME growth, and inclusive economic development which has been put in reach by this ambitious legislation,” he told export stakeholders.

Gatchalian said the National Innovation Council (NIC), which shall be created by Section 9 of the bill, is tasked to develop a comprehensive support program to push the growth and global competitiveness of MSMEs through innovation.

He noted MSMEs thus will be empowered to tap the unrealized potential of export worth in the Philippines which, according to the Export Potential Map, is as much as USD 43.9 billion.

“Whether it’s smart cards and electronic integrated circuits to bananas, fostering innovation will foster a world-class Philippine export industry which will turn this potential into national wealth,” he added.

Gatchalian, the principal sponsor and co-author of the Act, said the proposed law intends to make innovation a major driver of economic growth and a key foundation of a more inclusive future. 

“If passed into law, the Innovation Act would ensure that a Filipino with an innovative idea will no longer have to look elsewhere for funding or support. The Philippine Innovation Act has such great potential in turning the Filipino innovator, and exporter, into a patriot,” he said.

The Senate voted for the bill’s passage on third reading in May last year with 22 affirmative votes and not a single vote in the negative.