ERIA Takes Part in COSTI 77: New Technologies and Innovation for Economic Development

Singapore, 7 October 2019:  The Economic Research Institute for ASEAN and East Asia (ERIA) participated in the 77th ASEAN Committee on Science, Technology and Innovation (COSTI-77) on 7 October 2019. It was the first time ERIA has attended COSTI.

On behalf of ERIA, Dr Masahito Ambashi, Economist of ERIA, presented on How to Take Advantage of New Technologies and Promote Innovation for Economic Development in ASEAN. Taking the perspective of economic and development policies, Dr Ambashi said: ‘Compared to developed economies where new technologies are often perceived as disruptive, in ASEAN Member States as well, new technology and innovation should be embraced as an engine of growth.’

Stressing the importance of government initiatives to lead innovation, he presented three policy recommendations: 1) encourage the private sector to invest more in research and development and innovative activities, 2) deepen a conducive innovation ecosystem, and 3) accelerate services trade liberalisation.

After his presentation, member countries’ officials expressed strong interest for future cooperation and collaboration with ERIA in the field of science, technology, and innovation policies.