Newly established science and technology park in #Philippines with support from #India #IT #Technology #R&D #GIS #BlockChain #Crypto #EduTech #Farm #Fishery #SoutheastAsia

Philippines recently launched a new science and technology park in Batangas, with the support from India. With Philippines’ recent interest in digital technology and paired with a keen enthusiasm in digitalising their public administration, I think that this move does not really comes as a surprise. In fact, it is natural that they would be partnering India at the technology frontier.

Banking on Philippines’ young and educated workforce and combining with India’s experience in the technical know-hows of digital technology, farming and fishery management; both countries are expected to make use of this collaboration to build new industries. This should foster the attraction of new investments thereby creating the much-needed employment opportunities for their growing pool of educated young people.

This partnership should be mutually beneficial to both countries, Philippines would be able to learn the technical skills from India and the Indian businesses will be able to establish their presence in the ASEAN region and may even consider to use the science and technology park as their main launch pad in ASEAN region.

Aside from offering facilities for research and development, the Philippines government wants to encourage more innovation within their economy and they hope to achieve this by pushing for the CREATE bill. This CREATE bill is supposed to grant a 100% additional deduction on research and development (R&D) expenses for enterprises to incentivise innovation. The bill will also lower the corporate income tax rate for micro, small and medium enterprises (MSMEs) to 20%, from 30 percent. The corporate income rate would be lowered to 25 percent for all other businesses.

The science and technology park would spearhead the collaboration between Philippines and India with the following projects:

  1. Digital tracing of farm produces from farms to consumers and retail stores;
  2. Digitalisation of the farm-to-market process
  3. Blockchain techology
  4. Crypto-enabled Education Technology
  5. Research into Onion and Garlic seeds
  6. Satellite-based insurance products for fishery industry
  7. Geographic Information System for fishery industry
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