The Budget 2023 allocation of RM18 million to make MRANTI Park into a global innovation hub is seen as a serious push by the government toward research and development in the fields of technology.
Commenting on the Budget, MRANTI CEO Dzuleira Abu Bakar believes the Park needs to be enhanced further if serious about attaining a Top 20 rank in the Global Innovation Index, which puts it on course to becoming a high-tech country and innovation-driven economy.
While a large part of the Master Plan is focused on Phase 3 of the 686-acre park, Phase 1 and Phase 2 will be retrofitted and upgraded to ensure the infrastructure and amenities meet the technology requirements of our innovators and researchers to make their breakthroughs. The CEO wants to make the entire MRANTI Park a fully integrated Artificial Intelligence (AI) Park that upholds the principles of the United Nations’ Sustainable Development Goals and Environmental, Social, and Governance (ESG) criteria.
Under the five-year MRANTI Park Master Plan, the target gross development value is RM20 billion, with returns from land leases valued at RM2.8 billion.
On tax incentives extended to local pharmaceutical and aerospace companies – the CEO is sure some of the companies based at MRANTI Park will benefit from this, as MRANTI is committed to developing five tech clusters, which are drone tech, agri tech, health tech, bioscience and 4IR enabling tech at MRANTI Park.
The notable increase in healthcare allocation is also welcomed, which includes the procurement of medical devices such as 3D printers for the purpose of making dentures. With the recent launch of the healthtech hubs under NTIS and the 10-acre Integrated Healthcare Cluster, MRANTI is committed to helping the Ministry of Health elevate the quality of healthcare in the country via the application of new and advanced technologies. Every 1% increase in our innovation capacity increases the GDP per capita by 0.36%.
There is a real and critical need to transform the national development landscape to ensure it is more inclusive and sustainable in order to attract foreign and domestic investment. The empowerment of core technology will continue to function as a disruptive medium that encourages innovation in new fields, becoming an enabler of economic growth that will facilitate and support government planning and policy in facing the fourth industrial revolution (4IR), further making Malaysia a high-tech country.