Technology development is the key to economic and social development. It is the foundation of industrialization, sustainable economic growth, high productivity and economic competitiveness. In fact technology development is a key strategy for the realization of economic and social rights (e.g. right to an adequate standard of living and productive employment). Technology development will also reduce country’s high dependence on imports of manufactured goods (technologies, intermediate and consumer goods) as well reduce country’s high demand for foreign currency to import manufactured goods.
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