DOST to investors: Invest in tech-based industries

MANILA, Philippines - The Department of Science and Technology (DOST) called on businessmen on Tuesday to take advantage of strong local and foreign markets by investing in local technology-based industries.

“I hope they will now shift their focus to technology-based industries after investing in real estates, in malls and condos,” DOST Undersecretary for Scientific and Technological Services Fortunato De La Peña said.

He added that it's high time for the country's big capitalists to think of technology-based businesses looking at the market outside.

De La Peña gave as an example the success of lagundi products penetrating the market.

“If lagundi can penetrate the whole ASEAN market, it can generate more employment, more products and income,” he said.

Lea Lara, executive director of Iloilo Business Club (IBC), said their group is supportive of inventors to make their works available to consumers.

IBC, a partner of DOST's Technology Application and Promotion Institute- Regional Invention Contests and Exhibits (RICE), provides assistance to inventors by connecting them to interested investors.

“IBC is very happy to be part of the RICE. Hopefully, with the club’s network, we’d be able to help,” Lara said.