THE country's improved rank in the 2024 Global Innovation Index (GII) reflects the government's commitment to foster a culture of innovation and enhance competitiveness in both domestic and global markets, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said Friday.

The Philippines recently ranked 53rd out of 133 economies in the 2024 GII, an improvement from its 56th place in 2023.

The latest ranking also surpassed the government's target of ranking 54th for 2024, as set in the Philippine Development Plan (PDP) 2023-2028.

The GII, published annually by the World Intellectual Property Organization (WIPO), evaluates the innovation capabilities and performance of 133 economies worldwide.

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

Additionally, the country 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.

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

The report noted that the Philippines continues to excel in advanced technology sectors.

The country also ranked first globally in high-tech exports as a percentage of total trade, particularly in computers, scientific instruments and electrical machinery.

The Philippines ranks 14th in creative goods encompassing design, fashion and film, and 19th in exports of ICT services.

It also ranked 34th in global brand value and 35th in intangible asset intensity, underscoring its growing presence in the global markets.

The report, however, said 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.

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

These include the P100 million third cycle of the Innovation Fund to support projects in various priority areas.

The NIC will also host the National and Regional Innovation Awards and Competitions in 2025 to recognize outstanding Filipino innovations and is conducting several studies, including policy reforms to eliminate barriers to innovation, a feasibility study on massive scholarships and talent retention, an assessment of innovation infrastructure, and the development of a framework for regulatory sandboxing for new and emerging technologies.

The NEDA said the Department of Science and Technology is also leading key initiatives to boost research and innovation.

One of the initiatives is the Research and Development Leadership Program, which aims to strengthen R&D capabilities in higher education institutions and research institutes while supporting pre-commercialization efforts through the Technicom Program.

The Intellectual Property Office of the Philippines also provides technical assistance to micro, small and medium enterprises and inventors regarding trademark and patent searches, as well as the drafting of patents, utility models, and industrial design documents through its Innovation and Technology Support Office Network.

The Department of Trade and Industry, meanwhile, supports the creative industries by empowering Filipino talents in design, fashion and the arts while fostering innovation within the creative sector.

"With these 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 said.

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