BEIJING, Feb 7 (APP): The National Idea Bank, a collaboration among academia, government, and industry is aimed at addressing indigenous problems using technology and innovations in business and governance models will contribute to the rapid pace of development.

“I believe that in the world of digitalization, Pakistan really needs to establish a mechanism comprising thinkers and practitioners to identify innovative ideas for different organizations. National Ideas Bank as a knowledge-intensive system will contribute to the rapid pace of development.”

These views were expressed by Cheng Xizhong, Visiting Professor at Southwest University of Political Science and Law and Senior Fellow of the Charhar Institute in an article published here on Sunday.

According to a media report, President Dr. Arif Alvi last week said that the fastest way for Pakistan to emerge as a strong knowledge based economy was through promotion of innovative entrepreneurship based on information technology.

“Innovation and emerging technologies together can open up new vistas of development and prosperity for Pakistan”, President Dr. Arif Alvi said at the inauguration of National Idea Bank at the Aiwan-e-Sadr.

He also believed that the rise of a nation must have strong think tanks. The strong think tanks refer to a strong think tank system composed of a large number of excellent think tanks that matches the strength and status of the country and can provide intellectual support for the country.

Many countries are underdeveloped precisely because of the lack of support from the think tank system.

“We can forecast that the think tank system will play an increasingly important role in the international arena in the future,” he added.

Its increasingly important role is mainly reflected in the following seven aspects: The first is to create ideas and value targets. Think tank system can actively explore new policy ideas, which are often forward-looking and may be gradually accepted by policy makers, so as to become government policies.

The second is to provide decision-making consultation in key areas. Like many think tanks all over the world, most think tanks in China focus on undertaking research projects entrusted by the government to provide consultation and argumentation for government decision-making.

At the same time, on the basis of research, they put forward suggestions on national political, economic, social development and other issues.

The third is to voice for social public interests. A country with political civilization requires the public to actively participate in government decision-making. Especially in the formulation of public policies, we need to listen to the public voice, represent and reflect the interests of the public.

The fourth is to cultivate policy research talents. As cultivating institutions for policy research talents, think tanks are “clubs” that collect elites from all walks of life. The talent function of think tanks is mainly reflected in two aspects: one is the cultivating function, the other is the talent reserve function.

The fifth is to play a role in communication between the government and the public. As independent research institutions, think tanks can disseminate professional knowledge in relevant fields to the public through reports, media, Internet media, etc., interpret relevant government policies in detail, and guide the public to understand, accept and implement correctly.

The sixth is to provide a harbor for the independent intellectual elite. The development of think tanks can provide a good environment for the independent intellectual elite to engage in independent academic research. Their ideas and academic values can be spread and realized through the think tank platforms.

The seventh is to provide a platform for global cooperation. With the rapid development of globalization, the relationship between countries is getting closer and closer. Think tanks can gradually become exchange platforms for research on globalization related issues.