A PIDS study says private firms should invest in innovations to be more productive and profitable. Product and process innovations lead to increase in sales and profits and improve labor productivity. The country’s innovation policy needs to be substantially mainstreamed to be effective and the government should also foster the innovation ecosystem in firms.

Know more about the study titled “Does Innovation Mediate Good Firm Performance?” here:https://www.pids.gov.ph/publications/5467

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