While it is true that some investments are taking place in the country’s higher education system, we are yet to establish world class research facilities, recruiting profound academicians in universities/colleges/research institutions, etc. to sustain and forge lead in economic development. It is important to understand that countries like China, Singapore, South Korea, etc. are moving fast in investing in education system.
Firms must expand their scale of production, increase the professionalism of their managements, orient their specialization towards more dynamic and innovative sectors, and increase their presence in some technologically mature but high-quality segments of the international market. The financial system must assist firms in this difficult phase of transformation, directing resources towards the companies and projects with the greatest potential.