MELAKA: The lack of funding and investors in research and development (R&D) continues to be an obstacle to Malaysia achieving high-tech nation status by 2030, science, technology and innovation minister Chang Lih Kang said.
He said Malaysia only ploughs 1% of its gross domestic product (GDP) into R&D, while other countries such as South Korea typically invest 4% of GDP.
As such, he hopes budget funding for the science, technology and innovation ministry will be increased by at least 10% tomorrow.
“It takes a long time for results and achievements to be seen in R&D. If our investments are not large enough, we will be left behind,” he said at a press conference after the state-level National Science Week Carnival (MSN) 2023 and Malaysia Techlympics 2023 South Zone Level at the Melaka International Trade Centre today.
Chang said an increase in budget allocations would also open up more R&D opportunities in vaccine development and space exploration because funding for those fields was currently unsatisfactory.
He said additional funds will also enable various programmes, while attracting children’s interest in science, technology, engineering and mathematics. - FMT
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