Govt Supports High Impact R&D Investment, To Empower Industry Competitiveness
Minister of Science, Technology and Innovation Chang Lih Kang said this is because one of the main challenges facing the country at present is the existing R&D capabilities that are still not able to generate high returns on investment.
"The average R&D is currently in the pre-commercialisation phase and needs to be driven to a higher phase that is closer to commercialisation," he said when winding up the debate on the 13th Malaysia Plan (13MP) motion for the Ministry of Science, Technology and Innovation (MOSTI) in the Dewan Rakyat today.
He said this in response to the proposal by Datuk Dr Ku Abd Rahman Ku Ismail (PN-Kubang Pasu) for the country's R&D investment to be increased.
To overcome these constraints, Chang said the government saw great potential through regional technology development and ASEAN efforts through ASEAN Startup, which was seen as capable of attracting more regional technology talents to open businesses in Malaysia, thus increasing the country's R&D competitiveness.
Based on data, he said investment in experimental R&D increased to 60.97 per cent in 2022, but only 0.3 per cent of business enterprises invested in R&D activities.
He said this showed that the private sector was still less active in R&D investment and special incentives needed to be created to stimulate their interest.
'Within the context of MOSTI's jurisdiction, various measures have been implemented, including implementing the Malaysia Science Endowment (MSE) to develop alternative financing that leverages the collaboration of various parties.
'In addition, the implementation of a mission-based initiative, namely the Mission Oriented Initiative, to unify the entire research, development, innovation, commercialisation agenda under a strategic mission that is clearly directed and centred on solutions to critical issues at the national level,' he said.
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