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Revitalizing Economic Intelligences Data Through An Integrated Data Management System To Strengthen Our Economic Diplomacy
This paper offers recommendations on how to improve the management of economic intelligence data. The goal is to create a data-driven, integrated economic intelligence system that provides accurate, timely, and real-time data to support decision-making in economic diplomacy initiatives.
The introduction provides insights on the importance of economic intelligence data for Ministry of Foreign Affairs’ economic diplomacy. This paper then continues to explain how the data is currently managed in an uncoordinated manner. There are challenges on how the data is accessed, stored and further distributed. These challenges then affect the ease of formulating reports and policy for economic diplomacy. MoFA has already established several application systems that facilitates economic intelligence data and use an online based system to facilitate promotion of trade, tourism, and investment to support economic diplomacy, however, there is still room for improvement.
This paper further suggests the need for an integrated online IT-based economic intelligence data that is managed collaboratively by a specific taskforce or organization in order to provide a well-coordinated data and information. In this regard, economic intelligence data will serve its purpose to support a data driven economic diplomacy.
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