KUALA LUMPUR: The government supports increasing investment in research and development activities that focus on enhancing industrial sector competitiveness.
Minister of Science, Technology and Innovation Chang Lih Kang identified insufficient returns on current R&D investments as a primary national challenge.
He stated that most research currently remains in pre-commercialization phases requiring advancement toward market readiness.
Chang addressed these concerns during his winding-up speech for the 13th Malaysia Plan debate in Parliament today.
His remarks responded directly to proposals from Kubang Pasu member Datuk Dr Ku Abd Rahman Ku Ismail regarding R&D funding increases.
The minister highlighted regional technology development through ASEAN Startup as a promising solution to attract talent.
Regional collaboration efforts could bring more technology professionals to establish businesses in Malaysia.
This influx would significantly boost the country’s research and development competitiveness according to the ministry.
Experimental R&D investment data shows a promising increase to 60.97 percent in 2022.
However only 0.3 percent of business enterprises currently invest in research and development activities.
This statistic reveals limited private sector participation in research funding initiatives.
Chang emphasized the need for special incentives to stimulate greater corporate investment interest.
MOSTI has implemented various measures including the Malaysia Science Endowment program.
This initiative develops alternative financing through collaborative partnerships across multiple sectors.
The ministry also launched mission-based initiatives under the Mission Oriented Initiative framework.
This approach unifies research, development, innovation, and commercialization under strategic national missions.
These missions focus on solving critical national issues through directed solution-centered approaches. – Bernama
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