MOSTI Seeks RM4 Billion For R&D Under 10Th Malaysia Plan

KUALA LUMPUR, March 30 (Bernama) -- The Ministry of Science, Technology and Innovation is seeking more than RM4 billion to be utilised for research and development funding under the 10th Malaysia Plan (10MP).

Its minister, Datuk Seri Dr. Maximus Ongkili said under the Ninth Malaysia Plan (9MP), the government had allocated about RM2.9 billion for this purpose.

"The government expenditure for research and development is only 0.64 per cent of our gross domestic product (GDP).

"We are proposing that it doubles the investment to drive the innovation industry" he told reporters after launching a Agritech and Biotech Investment Forum 2010 here Tuesday.

The one-day forum was organised by the Asian Strategy and Leadership Institute (ASLI).

Ongkili also disclosed that the proposal had recently been submitted to the Economic Planning Unit (EPU).

"Under the 10MP, the strategy is to create enablers that ensure a return on investments in research, development and commercialisation allocations.

"This will then ensure that a significant number of projects complete the life cycle and be translated to real economic value," he explained.

Ongkili said the strategy will also include a serious relook at the focus areas of research and development.

He highlighted that among areas to come under focus in the 10MP are bio-mass, food security,cyber security, as well marine bio-technology.