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Business leaders stress importance of knowledge economy
2010/05/17 21:18:39 |
Taipei, May 17 (CNA) Business leaders urged Asian governments Monday to set up more venture capital funds and highlight the public benefits of knowledge-based economic growth.
"I noticed that for some parts of the APEC (Asia Pacific Economic Cooperation) region, there is a lack of venture capital, " Francisco Sandejas, managing partner of the Philippines' Narra Venture Capital, said at a symposium in Taipei.
During a panel discussion, Sandejas said there are a lot of funds raised in China, South Korea, Japan and Taiwan.
"But if you look down toward the other... ABAC countries, the ASEAN (Association of South East Asian Nations) region, there is a lack of funding," he said.
He was referring to the APEC Business Advisory Council (ABAC) , which is made up of executives who advise APEC leaders.
The symposium was held ahead of the second ABAC meeting this year, which will run in Taipei from May 18-21.
"Therefore, it's not too inspiring for potential future knowledge-based workers to enter the knowledge economy, " Sandejas said.
Sandejas suggested that the ASEAN countries could work with APEC members in offering more regional funds for the development of knowledge economies.
Fauziah Talib, a panelist from a consulting firm in Brunei, stressed the importance of human capital, which she said "takes a while" to be developed.
Talib urged the leaders to seriously look into human capital development and seek to produce the workforce necessary to support a knowledge-based economy.
Oh Jung-yun, a senior researcher at South Korea's National Information Society Agency, said it is important for the government to support the information and communications technology (ICT) industry, citing her country as an example.
The South Korean government made huge investments in the ICT industry as it considers ICT to be the way of the future, she said.
Peter Barnes, the president of Censiomax Inc., said that it is necessary to raise awareness of how knowledge-based growth benefits the public.
"Our challenge is to pull together and (communicate with the public) , tell a story about the importance of the benefits, the public benefits of knowledge-based growth," he said.
"Then that will foster support for good measures for knowledge-based growth, " he said. (By Lee Hsin-yin and Alex Jiang) ENDITEM/bc
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