Innovation, competitiveness essential for long-term growth: experts

November 21, 2022

Kanwal Naseer

Businesses and industry need to realize the importance of innovation, competitiveness and modern methods of production in building a long-term strategic plan for growth and development of the country. These conclusions were drawn by experts at a two-day training cum consultative session titled, “Industrial-Academic Linkage –Trainings (WBT) and Placements” that was jointly organized by the Sarhad Chambers of Commerce and Industry (SCCI) and Khyber Pakhtunkhwa Technical Education and Vocational Authority (KP-TEVTA), in collaboration with GIZ. Speaking at the occasion, Muhammad Ishaq, President of SCCI, said, “It is very important that our businesses and industry learn from the best practices around the world.

We need to embrace modern research in science and technology and adopt the modern methods of production to increase and sustain our competitiveness and productivity.” Faiz Muhammad, a consultant for the GIZ-KP TEVTA collaboration, shared the message of SCCI President and said, “In a globalized world competition between industries has increased from peers around the world.

Therefore, in order to keep the market share intact constant innovation and productivity enhancement is needed through embracing the technological jump.” Ishaq further stressed the need for the constant upgradation of the skills of workforce employed in industry and businesses. He said that workshops, trainings, vocational skills and constant education are highly needed to keep the industry competitive globally. He apprised the participants that SCCI is working diligently to formulate a plan for the training and capacity-building of the KPK workforce.

He added, “we need to understand the importance of universities in particular and academia in general, in the development of a skilled workforce.”He continued, “we need to collaborate with educational institutions to help them in developing their capacity to train our youth for business and modern industry. We need to pool our resources and share them with academia to that end. It is only by working together that we can really see an improvement in the productivity of our workforce.” He expressed hope that the proposed plan to build capacity and increase productivity will be a boon for Pakistani industry.

Credit : Independent News Pakistan-WealthPk