KOTA TINGGI: The Ministry of Science, Technology and Innovation hopes to get a higher allocation from the upcoming Budget 2023 so that it can commercialise research and development (R&D) activities as well as drive start-up companies.
Science, Technology and Innovation Minister Datuk Seri Dr Adham Baba said his ministry submitted a proposal via a consultation session with the Finance Ministry on Aug 31.
“We have submitted various viewpoints, such as that the R&D element can no longer be at the fundamental stage and that it must now be at the commercial stage. We must transition to that of a producing country instead of a consuming one as new technologies can provide jobs to the people.
“So, I have brought up the issue that new technology start-up companies should be given space next year to make progress on their R&D,” he told reporters after a Keluarga Malaysia (Malaysian Family) Merdeka event here on Saturday night.
Adham, who is also a Member of Parliament for Tenggara, said the Ministry of Science, Technology and Innovation has also been asked by the Finance Ministry to reorganise its strategies to ensure it receives a higher allocation.
Budget 2023 will be tabled in Parliament on Oct 7.
Source : The Edge Markets
