QUEZON CITY (PIA) — The Philippines has climbed three notches to 53rd out of 133 economies in the 2024 Global Innovation Index (GII) ranking of countries in terms of strides in innovation, the National Economic Development Authority (NEDA) announced on Friday, October 4.
“The leap from 56th place in 2023 surpasses the government’s target of 54th spot for 2024, as set in the Philippine Development Plan 2023-2028,” said NEDA Secretary Arsenio M. Balisacan in a statement.
“This advancement clearly reflects our commitment to fostering a culture of innovation and enhancing our competitiveness in both domestic and global markets. Our focus remains on making innovation a key driver of sustainable economic growth that benefits every Filipino,” he added.
Based on the World Intellectual Property Office’s GII, which measures countries’ capacity for innovation and their success in using it, the country moved up from its previous 56th spot last year.
In 2023, the Philippines also advanced by three notches in GII to 56th out of 132 world economies.
GII’s annual ranking of countries by their capacity for innovation is published by the World Intellectual Property Organization. It was started in 2007 by INSEAD and World Business, a British magazine. (PIA DMD)
