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About the Council for Competitiveness & Innovation
Francis M. Lewis
Vice Chairman,
Council for Competitiveness and Innovation (CCI)
Wednesday 14th November, 2012
Defining Competitiveness & Innovation
Competitiveness is the set of institutions, policies and regulations that support high levels of productivity and drive productivity growth and sustained increases in output.
Innovation is a process of generating, acquiring and applying knowledge for economically and socially beneficial purposes. (Marcelle, 2011)
About the CCI
The Council for Competitiveness & Innovation (CCI) was established by the GoRTT in 2011 as an Advisory body to the Ministry of Planning.
The CCI is charged with the responsibility to significantly improve T&T’s global competitiveness and foster innovation as key drivers of a diversified knowledge based economy.
Ministerial Council
Executive Director (Shared CCI & ECB)
Economic Development Board
Project Management & Implementation
New Business Design &
Development
Development of Growth
Poles
Research & Policy Unit
Support Staff (Outsourced Expertise, Secretary, Accounts , etc)
Council for Competitiveness & Innovation
Ministry of Planning & Sustainable Development
Economic DevelopmentBusiness Unit
Competitiveness & Innovation
Business Unit
Communications & Events
Research & Analyst
T&T’s GCI Ranking in relation to other Caribbean & Latin American countries
01 02 03 04 05 06 07 08 09 10 110
20
40
60
80
100
120
T&T B'ds J'caChile Costa Rica Brazil
GC
I R
anki
ng
T&T’s GCI ranking vs innovation driven economies
COUNTRY Per Capita GDP
(Current USD)
Per Capita Export (USD)
Ease of Doing
Business
Population (Millions)
STAGE OF DEVELOPMEN
T
Overall Competitive
Rank
Trinidad & Tobago $20,300./ 61 $12,700./18 68 1.32 Transition 2-3 84
Mauritius $15,000. / 84 $1,850. /62 23 1.29Efficiency Driven
(2) 54
Chile $16,100. / 74 $4,000./ 42 39 17.4 Transition 2-3 31
UAE $48,500. / 11 $37,200. /3 33 8.26Innovation driven
(3) 27
Canada $40,300. / 22 $9,430. / 24 13 34.83Innovation driven
(3) 12
USA $48,100. / 12 $3,375./ 46 4 313.72Innovation driven
(3) 5
Singapore $59,900./ 5 $45,302./ 2 1 5.18Innovation driven
(3) 2
New Zealand $27,900./48 $6,725./34 3 4.3Innovation driven
(3) 23
Israel 31,000./41 $7,060./30 34 7.3Innovation driven
(3) 22
CCI’s Work Programme 2012 - 14
1. Improve T&T’s Competitiveness Ranking by 20 points.
2. Double non-energy exports.
3. Increase RDI expenditure to 1% of GDP.
4. Raise national awareness of innovation.
5. Help existing firms become more competitive & export-ready.
6. Developing National Innovation Strategy & Policy [NIS/NIP] (assigned in October 2012)
Action Plan Objective Target Owners
• Increase economic growth 2% by 2013/14 GoRTT, Private sector
• Develop a National Innovation System
3rd Quarter, 2013
Ministry of Planning and Sustainable Development
• Identify additional strategic sectors for increased investment
Q3, 2012 EDB in collaboration with Business Sector Associations
• Increase expenditure in R&D 1% of GDP by 2014
GoRTT
• Improve ranking on the Global Competitiveness Index
20 points by 2014/2015
CCI in collaboration with Business Sector Associations
• Increase non – energy exports 100% by 2014 All stakeholders
• Increase resources to the Public Sector Investment Prgm (PSIP)
8% of GDP by 2014
GoRTT
The End Thank you for your attention!
Key Areas that T&T need to address?
11. Financial Market Development
10. Infrastructure
9. Technological Readiness
8. Higher Education and Training
7. Health and Primary Education
6. Institutions
5. Business Sophistication
4. Labour Market Efficiency
3. Goods Market Efficiency
2. Innovation
1. Market Size
0 20 40 60 80 100 120
43
45
53
61
61
68
73
82
89
94
108
So what is the CCI doing to achieve its deliverables?
1. A dramatic improvement in T&T’s global competitiveness rank
Identify area for priority action based on 2012 survey
For 2013 survey Continue program to sensitize and build awareness with
Private and Public sectors Develop a Communications Plan Execute the plan six (6) months prior to the survey
So what is the CCI doing to achieve its deliverables?
2. The doubling of non-energy exports. Undertaking a survey with 100 private sector firms - manufacturing and
services sectors.
This would assist in policy formulation in areas such as Innovation R&D Human capital development Standards and technical regulations Tax incentive regimes Ease of doing business Trade facilitation and promotion
So what is the CCI doing to achieve its deliverables?
3. Building national awareness of innovation
“i2i” competition
Invest in the creativity, potential and ingenuity of citizens to conceive new inventions and innovative projects.
Ideas can be generated through: Creation of new products,
services, a system designs or processes
Improvement of a new product, service, business process or system
New process of adding value to T&T sourced raw material
The local and/or export market
So what is the CCI doing to achieve its deliverables?
4. Making existing companies more competitive.
Education & Training Continuous staff training Improved staff performance
Technological Readiness Access & advanced blueprints Enhanced productivity
Innovation Design & develop cutting edge products & processes Increased R&D
Business Sophistication Increased production of goods & services Increased competitiveness
Benchmarking against top performers
Key characteristics of the top performers are:
1. High capacity for innovation Quality scientific research institutions Company spending on R&D University / Industry collaboration in R&D Utility patents granted
2. Strong work ethic Pay and productivity Reliance on professional management
3. Safe and secure environment Low levels of crime and theft Efficiency
What is innovation? Renewal & enlargement of
range of products & services
New methods of production, supply & distribution
Changes in Management, organizations,
working conditions
Changes in skillsets of the work force
Deliverables
Dramatic improvement of GCI ranking by at least 20 points by 2014 - From 84 to between 50 – 60, in the next two years.
Significant expansion of non-energy exports i.e. double exports in the next two years.
Increase R & D expenditure to 1% of GDP by 2014. (T & T GDP is in 2014 will be TT$225 – 245 billion or US$35 – 37 billion). This means getting R & D spending to about TT$225 – TT$245 million in 2 years.
Raise awareness of competitiveness and innovation.
Develop two separate but related national policies on Competitiveness and Innovation, by September 2012.
Aim is to catalyze transformation of the economy and reduce dependence on hydrocarbons, over the next 10 years.
Stakeholder Collaboration
CCI
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