Cci about the council - pp - v2 fml - 8-21 slides - 19 nov 12

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  • Porter stated that in order to understand competitiveness, the starting point must be a nation’s underlying sources of prosperity. A country’s standard of living is determined by the productivity of its economy, which is measured by the value of goods and services produced per unit of its resources. Productivity depends both on the value of a nation’s products and services – measured by the prices they can command in open markets – and by the efficiency with which they can be produced”
  • According to the World Economic Forum, the highest drops in Latin America and the Caribbean region have been experienced in some countries of Central America—for example, in Costa Rica, Guatemala, El Salvador, Nicaragua, and Jamaica— mainly due to a deterioration of the security conditions. WEF pointed out that In order to keep the positive momentum going, Latin America and the Caribbean will need to address some of the persistent challenges that constrain its competitiveness. These challenges are weak institutions with high costs associated with a lack of physical security; poor development of infrastructure; an inefficient allocation of production and human resources; and, increasingly,a lag in innovation vis-à-vis more developed, but also emerging, economies.
  • In order to achieve ‘quick wins’ in the immediate to short term, focus must be placed on improving the following pillars:Labour market efficiency Business sophistication Innovation Goods market efficiency
  • In order to achieve ‘quick wins’ in the immediate to short term, focus must be placed on improving the following pillars:Labour market efficiency Business sophistication Innovation Goods market efficiency
  • Cci about the council - pp - v2 fml - 8-21 slides - 19 nov 12

    1. 1. About the Council for Competitiveness & InnovationFrancis M. LewisVice Chairman,Council for Competitiveness and Innovation (CCI)Wednesday 14th November, 2012
    2. 2. 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)
    3. 3. 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.
    4. 4. Ministerial Council Ministry of Planning & Sustainable Development Council for Competitiveness Economic Development Board & Innovation Executive Director (Shared CCI & ECB) Competitiveness & Economic Development Research & Innovation Business Unit Policy Unit Business Unit Project New Business Development Communications Research &Management & Design & of Growth & Events AnalystImplementation Development Poles Support Staff (Outsourced Expertise, Secretary, Accounts , etc)
    5. 5. T&T’s GCI Ranking in relation to other Caribbean & Latin American countries 120 100 80GCI Ranking 60 40 20 0 01 02 03 04 05 06 07 08 09 10 11 T&T Bds Jca Chile Costa Rica Brazil
    6. 6. T&T’s GCI ranking vs innovation driven economies COUNTRY Per Capita Per Capita Ease of Population STAGE OF Overall GDP Export Doing (Millions) DEVELOPMEN Competitive (Current (USD) Business T Rank USD)Trinidad & Tobago $20,300./ 61 $12,700./18 68 1.32 Transition 2-3 84 Efficiency Driven Mauritius $15,000. / 84 $1,850. /62 23 1.29 (2) 54 Chile $16,100. / 74 $4,000./ 42 39 17.4 Transition 2-3 31 Innovation driven UAE $48,500. / 11 $37,200. /3 33 8.26 (3) 27 Innovation driven Canada $40,300. / 22 $9,430. / 24 13 34.83 (3) 12 Innovation driven USA $48,100. / 12 $3,375./ 46 4 313.72 (3) 5 Innovation driven Singapore $59,900./ 5 $45,302./ 2 1 5.18 (3) 2 Innovation driven New Zealand $27,900./48 $6,725./34 3 4.3 (3) 23 Innovation driven
    7. 7. CCI’s Work Programme 2012 - 141. 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)
    8. 8. Action Plan Objective Target Owners• Increase economic growth 2% by 2013/14 GoRTT, Private sector• Develop a National Innovation 3rd Quarter, Ministry of Planning and System 2013 Sustainable Development• Identify additional strategic sectors Q3, 2012 EDB in collaboration with for increased investment Business Sector Associations• Increase expenditure in R&D 1% of GDP by GoRTT 2014• Improve ranking on the Global 20 points by CCI in collaboration with Competitiveness Index 2014/2015 Business Sector Associations• Increase non – energy exports 100% by 2014 All stakeholders• Increase resources to the Public 8% of GDP by GoRTT Sector Investment Prgm (PSIP) 2014
    9. 9. The EndThank you for your attention!
    10. 10. Key Areas that T&T need to address? 1. Market Size 108 2. Innovation 94 3. Goods Market Efficiency 89 4. Labour Market Efficiency 82 5. Business Sophistication 73 6. Institutions 68 7. Health and Primary Education 61 8. Higher Education and Training 61 9. Technological Readiness 53 10. Infrastructure 4511. Financial Market Development 43 0 20 40 60 80 100 120
    11. 11. 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
    12. 12. 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
    13. 13. So what is the CCI doing to achieve its deliverables?  Ideas can be generated3. Building national through: awareness of  Creation of new innovation products, services, a system designs or  “i2i” competition processes  Invest in the  Improvement of a new creativity, potential product, service, business and ingenuity of process or system citizens to conceive new inventions and  New process of adding innovative projects. value to T&T sourced raw material  The local and/or export
    14. 14. So what is the CCI doing to achieve its deliverables?4. Making existing companies more competitive. Education & Improved staff Continuous performance Training staff training Technological Access & Enhanced advanced Readiness productivity blueprints Design & develop cutting Innovation edge products Increased R&D & processes Increased Business production of Increased Sophistication goods & competitiveness services
    15. 15. 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
    16. 16. What is innovation? Renewal & enlargement ofrange of products & services New methods of production, supply & distribution Changes in Management, organizations, working conditions Changes in skillsets of the work force
    17. 17. 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.
    18. 18. Stakeholder Collaboration

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