DOST chief cites need for 'knowledge-based' economy

Science and Technology Secretary Filemon Uriarte has underscored the need for the creation of a "knowledge-based" economy which may be the quickest way to bring progress to the country.

Speaking before the formal launch of the Virtual Center for Technology Innovation for Information Technology (VCTI-IT), Uriarte noted that more than half of the gross domestic product in major developed economies is based on the production and distribution of knowledge.

In 1997 alone, Uriarte said that worldwide spending on IT services and products reached $683 billion and is expected to continue to grow at double digit percentages.

He pointed out that dot.com Internet companies have created spectacular wealth with nothing more than knowledge, creativity and IT as capital.

In fact, Uriarte said that knowledge economies need little capital but require highly-skilled manpower.

"The Philippines could easily provide that manpower because we have a large pool of trained and trainable people," he noted.

Thus, the Department of Science and Technology, in partnership with business and with the academe has unveiled the VCTI-IT as the latest component of the department's comprehensive program to enhance technology enterprises.

The program intends to provide the infrastructure and the opportunity to train and certify 5,000 IT professions in five years using internationally-recognized standards and to promote the development of high value IT products and services.

VCTI-IT, Uriarte said will receive an initial funding f P30 million this year.

Jaime Augusto Zobel de Ayala, Ayala Corp. president and co-chairman of the National Information Technology Council, noted that the Philippines has already "missed many steps" in the development, production and implementation of IT.

"In the process, we have been missing out in participating in the new economy that is rapidly being created globally," he said.

VCTI-IT, he said, is a step towards the right direction.