Science ministry hopes for higher allocation from Budget 2023

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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

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