The third industrial revolution is being increasingly underpinned by a dramatic shift from quantitative increase to qualitative improvement. In the past, the task of stimulating and sustaining economic recovery and growth focused on stimulating consumption and investment. Now, the focus is on R&D and innovation as potential sources of facilitating the shift towards qualitative improvements. The pragmatic accent on policy choices today is on fostering fast-growing job-creating green industries. Achieving social inclusion in value creation by the private sector, complying with ecological norms, is the real challenge. Prudent policy choices can address the issue. The industrial policy response to convert challenges into opportunities and opportunities into sustainable sources of wealth creation is a discovery process. In discovering the process, the State should emerge as a dynamic entrepreneur not in terms of owning industrial assets but in terms of rekindling new sources of dynamic growth through policy interventions within the framework of market-based public activism.
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Dr. Jebamalai Vinanchiarachi, Former Principal Adviser to the Director-General, United Nations Industrial Development Organization (UNIDO); Visiting Senior Research Fellow, University of Malaya, Kuala Lumpur
- Thursday, 24 March 2011
- 12.15 p.m. - 1.30 p.m.
Seminar Room 3-4
Level 3, Manasseh Meyer
Lee Kuan Yew School of Public Policy
469C Bukit Timah Road