KUALA LUMPUR, Aug 20 — The government agrees with the view that there is a need to increase investment in the country’s research and development (R&D), especially in competitive R&D activities that focus on the industrial sector.
Science, Technology and Innovation Minister 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 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 Science, Technology and Innovation Ministry (Mosti) in the Dewan Rakyat today.
He said this in response to the proposal by Datuk 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 drawing 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 the private sector is less active in R&D investment and special incentives are needed to stimulate their interest.
“Under Mosti’s jurisdiction, various measures have been implemented, including implementing the Malaysia Science Endowment to develop alternative financing that leverages the collaboration of various parties.
“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,” Chang said.
