preview

The Role of Technology in National Development

Better Essays

FEATURE The Role of Technology in National Development Emmanuel O. Egbogah Executive Chairman Emerald Energy Resources F rom the beginning of time, man has strived to improve his way and quality of life. The caveman discovered how to make and use tools, developed a logical sequence for activities, and evolved processes that added value to his life. The totality of the use and application of his knowledge, skills, tools, and materials constitutes what we today describe as “technology.” If natural instinct directs us and compels the application of technology for the well-being of man, why is it that all humankind has not exploited this in equal capacity? Technology plays a fundamental role in wealth creation, improvement of …show more content…

A technology partnership was not a standard contract format but a philosophy, an attitude toward a relationship, and a system that could be structured into a wide range of formats. The philosophy was to create collaboration between Petronas Carigali and vendor service companies to work in integrated teams applying technology to a Carigali project. Instead of direct purchase of any purveyor’s technology, Petronas proposed applying the technology to the project, during which time Petronas Carigali would pay for the cost of contractor’s staff participation plus the cost of acquiring the technology, but only at the successful completion of the project. The process would allow Petronas staff who participated in the project to gradually learn the technology, which resulted in effective technology transfer. The oil industry plan was integrated into the Malaysian National Business Plan in what is known as “Vision 2020,” a roadmap to the country’s transformation to a developed nation by the year 2020. The strategy for the plan’s implementation involves » stablishing a plan to develop industry sectors and E employment opportunities for sustained growth » eveloping suppliers capable of expanding outside D of the oil and gas industry » Monitoring and encouraging competition The plan also seeks to improve in-country technical and business skills by investing in technical and business education, encouraging international companies operating in the country to integrate

Get Access