KUALA LUMPUR: The government will strengthen the Buy Malaysian Goods initiative to ensure that research and innovation by local talents can be widely commercialised and benefit society, says Datuk Seri Anwar Ibrahim.
The Prime Minister said the move was part of the government's efforts to ensure that locally developed products did not remain confined to laboratories but successfully reached both domestic and international markets.
"This is the way to ensure that research and innovation by local talents do not stop at the laboratory, but are truly marketed," he said when tabling Budget 2026 in the Dewan Rakyat Friday (Oct 10).
Anwar, who is also Finance Minister, said that based on current data, public universities in the country had established nearly 450 spin-off companies, but the commercialisation rate remained low at around 5%.
Therefore, he said, to encourage the commercialisation of research and development (R&D) outcomes, the government would implement several measures, including allowing public university lecturers who are founders of spin-off companies to take a year-long research or sabbatical leave for commercialisation purposes, and allocating RM10mil in seed funding through the establishment of a National Spin-Off Company Fund.
"This will allow 50 lecturers to fully focus on developing their spin-off companies, which are expected to attract at least RM30mil in private investment with a threefold multiplier effect," he said.
Anwar said among the local innovations with commercialisation potential were a portable kidney dialysis machine and tongue cancer treatment developed by Universiti Sains Malaysia (USM), as well as fertility treatment and biological therapy for knee osteoarthritis by Universiti Malaya (UM).
To support the initiative, RM12mil has also been allocated to selected university teaching hospitals (HPU) to apply the inventions in targeted patient rehabilitation programmes.
Meanwhile, the Prime Minister said that so far, more than 550 products and services had been approved under the Malaysian Science, Technology and Innovation (MySTI) logo, and the government would prioritise MySTI-certified products in government procurement, including opportunities for commercial testing.
Additionally, he said a 100% Green Investment Tax Allowance for Own Use would be granted to companies that utilised locally manufactured green technology products certified under the MyHIJAU Mark.
"The Made by Malaysia labelling and Buy Malaysian Goods campaign will continue to be strengthened, with an allocation of RM20mil to enhance the visibility of local products in domestic and international markets," he said.
In the effort to bring research and innovation closer to the people, Anwar said the government would organise the Putrajaya Festival of Ideas as a platform to connect local innovations with communities and markets. - Bernama
