Transfer of Technology in Developing Country.
Like most other developing countries, our country is seeking foreign funded project to help the growing economy. The emphasis is often placed on the need for transfer of technology. The transfer of technology means the transfer of knowledge, and technical know-how. The transfer of technology may be defined as "a process in which a country is free to choose autonomously from among different alternatives of scientific and technological knowledge, those which are best suited to …
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…The ability of the local workers to absorb, adapt and develop the technology is depending on the skilled labour and know how.
In conclusion, the success of the transfer of technology not solely depends on the willingness of foreign party, but also depends on our local party to absorb, adapt and develop the technology. In a long run, the local party shall reduce the foreign technology dependence and develop the domestic technology and innovative skills.
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