Modern society is characterised by constantly changing technology, which has been enhanced by the arrival of the Fourth Industrial Revolution (4IR). The 4IR era requires countries to invest in adequate research, development and technology innovation to remain globally competitive. The pressure to stay ahead in this era is partly at the root of the ongoing trade war between the two global economic giants, China and the US. Recognising the need to strengthen research and development capacity, industrialised countries, especially those belonging to the Organisation for Economic Co-operation and Development, spend on average 2,3% of their gross domestic product (GDP) on these activities, while countries in subSaharan Africa spend on average 0,5%.
South Africa spends about 0,8% of GDP on research and development, which is equivalent to roughly R32 billion. The National Development Plan (NDP) has suggested that this figure be close to 1,5% of GDP to enhance innovation and attain a technology-inclined economy. This gap between current spending on research and development and the NDP’s target helps explain why the country has dropped in competitiveness rankings: the World Economic Forum’s Global Competitiveness Index shows that South Africa shifted from position 62 in 2017 to 67 in 2018 due to a decay in innovation and an enabling environment.
EXPENDITURE ON AGRICULTURE RESEARCH EVEN LOWER
Bu hikaye Farmer's Weekly dergisinin August 16, 2019 sayısından alınmıştır.
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Bu hikaye Farmer's Weekly dergisinin August 16, 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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I'm a stylish elderly lady with a radiant glow and a good sense of humour that keeps me young at heart.
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Global grain outlook: 2024/25 marketing season
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