5. Conclusion and Implications

Firms in developing countries are making greater efforts to harness science and technology in their pursuit of competitive advantages. Expanding international flows of information and highly educated people suggests an emerging trend of global science and technology-based enterprises. This global context has been increasingly facilitating firms in development countries to advance their competitive positions. It, thus, requires new approaches to international cooperation and competition. More and more developing countries are aware of the role of science and technology in sustaining their economic development. It is critical to develop necessary domestic capabilities in niche markets where they can be competitive.