MALAYSIA needs to improve its research and development base and increase spending on research if it wants to be a successful innovative economy.
“Although the Government approved nearly RM1bil in research and development grants between 2001 and 2003, total research and development expenditure was only 0.4% of GDP between 1996 and 2002, compared with 1.5% for Australia, 2.1% for Singapore and 3% for South Korea,” said a book titled Malaysia: An Economy Transformed.
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