Theme: Rewiring Philippine Growth Amid Uncertainty: People, Innovation, and Shared Prosperity

Speaker: Secretary Arsenio M. Balisacan PhD

The INNOTECH Seminar Series on Education, Innovation, and Technology was held on April 22, 2026, at SEAMEO INNOTECH in Quezon City, featuring Secretary Arsenio M. Balisacan, PhD, of the Department of Economy, Planning, and Development. In his presentation, “Rewiring Philippine Growth Amid Uncertainty: People, Innovation, and Shared Prosperity,” Secretary Balisacan examined the country’s economic performance and the role of innovation and technology in sustaining growth and improving well-being. He noted that while the Philippine economy has performed comparatively well over the past two decades, much of its recent growth has been driven by capital accumulation, leaving considerable room to improve productivity through technological adoption and innovation. He emphasized that sustaining this momentum requires both improving the efficiency with which existing resources are used and expanding the country’s productive capacity through innovation, workforce skills development, investment, infrastructure, and strong institutions.

Secretary Balisacan identified human capital, infrastructure, enabling policies and institutions, and public-private partnerships as key building blocks for innovation and shared prosperity. On human capital, he pointed out that although Philippine spending on education and health is broadly comparable to regional peers as a share of GDP, outcomes indicate that the quality and allocation of spending also matter. He further highlighted the pressures created by rapid technological change, particularly artificial intelligence, which can quickly make workers’ skills outdated and therefore makes continuous upskilling and reskilling increasingly important. At the same time, he identified digital connectivity as a critical constraint to technology adoption, citing challenges in internet access, speed, and affordability. He concluded that building a future-ready, competitive, and inclusive economy requires reinforcing these growth pillars, equipping the workforce, accelerating supporting infrastructure, enabling investment, and creating a policy environment that supports innovation and shared prosperity.

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