MELAKA (Oct 12): The lack of allocations and investors in the field of 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 this is because R&D funds in Malaysia still remain at 1% of the nation's gross domestic product (GDP) compared to other countries such as South Korea at 4%.
Therefore, he hoped the Science, Technology and Innovation Ministry would be given a larger allocation or at least an additional 10% through Budget 2024, which will be presented on Friday by Prime Minister Datuk Seri Anwar Ibrahim.
“This is because R&D takes a long time for results and achievements to be seen. If our investments in R&D are not large enough like other countries that reach 3% to 4% of GDP, we will be left behind.
He said this at a press conference after officiating the state-level National Science Week Carnival 2023 and Malaysia Techlympics 2023 South Zone Level at the Melaka International Trade Centre.
Chang said an increase in budget will also open up more R&D opportunities in vaccine development and space exploration as allocations for those fields were currently unsatisfactory.
He said additional funds will also enable various programmes to be organised, especially in attracting children's interest in Science, Technology, Engineering and Mathematics.