PNG’s economy is shifting: Council

Papua New Guinea is shifting its economy from being resource-based to one that is more knowledge-based.

This is an opportune moment for this year’s host economy to gather the best practices from all over the APEC region to smoothen this transition.

“In a knowledge-based economy, more emphasis is placed on innovation and international cooperation,” said Professor Teatulohi Matainaho, CEO and Chair of the Papua New Guinea Science and Technology Council.

Professor Matainaho was part of a gathering of international technology transfer professionals from all over the Asia-Pacific region. The group released a manual that creates uniformity in the processes and aligns platforms used for transferring innovative technology from economy to economy.

The manual’s release is aligned with Papua New Guinea’s theme for APEC this year – Harnessing Inclusive Opportunities, Embracing the Digital Future – which puts emphasis on using technology in order to afford small businesses and industries and an equal shot at reaching international markets and accessing tools for innovation.

Sharing technologies and best practices can also benefit governments in several areas, such as a digital approach to response and preparation for natural disasters.

“The digital future is a major focus of APEC for this year. It is a concept with close relevance towards most popular technologies and issues like big data, shared economy and artificial intelligence,” said Zhang Zhang, the project’s overseer and Secretary General of International Technology Transfer Network.

“It provides a mechanism for promoting global science and technology innovation cooperation that encourages an integrated regional growth.”

The workshop was organised through APEC’s Cross-Border Science and Technology Innovation and Connectivity Forum.

It is one of many projects being conducted through meetings in Port Moresby.

It will culminate with the 1st Senior Officials’ Meeting on 8-9 March.

(Professor Teatulohi Matainaho – Picture: Global Road Map)

Press release