"acknowledges the importance of" is a correct and commonly used phrase in written English.
It is typically used when discussing the significance or value of something. Example: The company's new policy acknowledges the importance of work-life balance and offers flexible scheduling for employees.
This statement is important in that it acknowledges the importance of the quality of interventions in reducing offending and re-offending.
Ed Miliband describes himself as an atheist, but also acknowledges the importance of his Jewish inheritance.
"Divine Restoration," she said, acknowledges the importance of the black church.
"It understands that the claimant acknowledges the importance of that debate.
Mr. Elcharfa acknowledges the importance of prayer, but does not agree with his wife's incentives.
DSM-V acknowledges the importance of cognition in schizophrenia, and could recommend a formal neuropsychological assessment in individuals with psychosis.
In contrast, the Kasturirangan report acknowledges the importance of tourism, and even encourages it as an alternative source of income.
Increasingly, the criminal justice system acknowledges the importance of scientific findings about adolescents' entangled neurological, physiological and psychological developments.
Jokowi acknowledges the importance of improving Indonesians' poor schooling and the country's inadequate infrastructure, especially its roads, power and ports.
He acknowledges the importance of trade, but the only message the public has heard is one of satisfaction at a successful G8 summit outcome - "mission accomplished, quite frankly".
(The Entrepreneurial State acknowledges the importance of intangible investments beyond R&D on elsewhere, but this is not prominent in its discussion of Apple).
