PH's Ranking In 2024 Global Innovation Index Highlights Gov't Drive For Innovation --- NEDA

The improved ranking achieved by the Philippines in the 2024 Global Innovation Index (GII) reflects the government's drive to foster a culture of innovation and enhance competitiveness in both domestic and global markets, said National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan.

The Philippines ranked 53rd among 133 economies in the 2024 GII, a significant improvement from the 56th place it held in 2023.

The Philippines ranked 53rd among 133 economies in the 2024 GII, a significant improvement from the 56th place it held in 2023.

Balisacan noted that the latest ranking also surpassed the government’s target of attaining 54th place for 2024, as set in the Philippine Development Plan (PDP) 2023-2028. Published annually by the World Intellectual Property Organization (WIPO), the GII evaluates the innovation capabilities and performance of 133 economies worldwide.

WIPO recognized the Philippines for ranking third among 38 lower-middle-income economies, following India and Vietnam.

The country also maintained its 5th place among ASEAN members and was acknowledged as one of the middle-income economies that have made the most significant ranking improvements since 2013.

Balisacan emphasized, “Our focus remains on making innovation a key driver of sustainable economic growth that benefits every Filipino.”

The Philippines also ranked first globally in high-tech exports as a percentage of total trade, particularly in computers, scientific instruments, and electrical machinery; 14th in creative goods encompassing design, fashion, and film; 19th in exports of ICT services; 34th in global brand value; and 35th in intangible asset intensity, underscoring its growing presence in global markets.

The report stated that the Philippines must continue to invest in research and development (R&D), human capital, and digital infrastructure to tackle persistent challenges that could impede its sustained progress.

NEDA said the National Innovation Council (NIC), chaired by President Ferdinand R. Marcos Jr., is implementing key initiatives outlined in the National Innovation Agenda and Strategy Document 2023-2032.

These initiatives include the PHP 100 million third cycle of the Innovation Fund, supporting projects in various priority areas.

“With our ongoing efforts, we are well-positioned to further strengthen our global standing and contribute to our goal of a smart and innovative Philippines, as envisioned in the NIASD 2023-2032 and AmBisyon Natin 2040,” Balisacan underscored.