The Ministry of Science, Technology and Innovation (MOSTI) in Malaysia has set a goal of becoming a high-technology country by 2030.
MOSTI’s Minister Datuk Seri Dr Adham Baba, at the opening of Invest Malaysia 2021, said the country is targeting the creation of an ecosystem in the economy that is driven by science, technology and innovation.
MOSTI will facilitate local technology development by creating economic opportunities and talents or workforce in AI, IoT and blockchain. The agency is also developing 17 technology roadmaps including those on AI, blockchain, electrical and electronics, advanced materials, robotics and vaccines.
The minister said the target is in line with the National Science, Technology and Innovation Policy (DSTIN) plan from 2021-2030. The country’s GDP has grown from RM204 billion (US$48.9 billion) in 1991 to RM1.34 trillion (US$321 billion) 402in 2020, the result of successful implementation of the country’s various policies.
Aim to locally develop 500 commercial solutions
Dr Adham said R&D will become a focus of DSTIN, with a goal to reaching the targeted ratio of 2.5 per cent of the gross expenditure on R&D (GERD) of the GDP by 2025 and 3.5 per cent by 2030.
He added that the efforts are supported by aligning the country’s R&D priority areas with the focus on experimental research, besides MOSTI’s initiatives through its agencies including the Technology Commercialisation Accelerator and Malaysia Science Endowment to drive the development and local technology application efforts among the industry players and in helping the country face the fourth industrial revolution.
MOSTI has targeted 500 products or solutions to be commercialised in the country’s 12th Malaysia Plan. From 2016 to 2020, RM402 million (US$96.3 million) in sales was recorded from 386 commercialised R&D products.
The commercialisation activities will also be intensified under the government’s Intellectual Property and Inventions Commercialisation Policy from 2021-2025.
The focus will also be on developing experimental research to ensure talents and experts were produced to achieve the targeted ratio of 130 talents and experts for every 10,000 workers by 2025.