THE nation’s R&D is at a crossroads. At 1% of GDP, total spending is still lingering at the low end by global standards. The more developed nations spend on the average 3% of GDP on R&D. Our earlier target to increase spending to 2% of GDP has been dashed by recent further cuts in R&D allocation. The universities have been hardest hit.
The momentum set by University Malaya’s High Impact Research programme has consequently largely fizzled out. It is now back to square one. Yet with the fast emerging 4th Industrial Revolution, many countries look to a strong R&D investment to raise their level of competitiveness in the new economy. An economy where technology and knowledge will dominate global business. At the same time our close neighbours such as Indonesia, Vietnam and Thailand are doing the opposite.
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