KUALA LUMPUR, Oct 6 (Bernama) – Malaysia has the talent and ideas to produce high-impact products if the country continues to focus on research and development (R&D) and innovation, said Deputy Prime Minister Datuk Seri Fadillah Yusof.
He said strengthening the R&D ecosystem is crucial not only to address current challenges but also to boost the economy and enhance the well-being of the people.
“Malaysia has the talent and ideas that can be turned into reality. To become a competitive nation, we must prioritise R&D.
“Research alone is not enough, it must be translated into products that provide solutions and contribute to the economy and the well-being of our people,” he told reporters after officiating the National Innovation and Commercialisation Expo (NICE 2025) at the World Trade Centre Kuala Lumpur today
NICE 2025, themed ‘Innovation. Growth. Global Impact'’, brings together local talent, technology and solutions to be showcased globally, demonstrating Malaysia’s capability in producing high-impact products
Fadillah said the event also saw the signing of 12 agreements and memoranda of understanding worth over RM800 million, and the launch of 13 new products involving agencies, universities and companies in agrotechnology, biotechnology and digital development.
“The research, development, commercialisation and innovation (RDCI) ecosystem, built on public-private collaboration, is key to creating high-value local products and increasing gross R&D expenditure to 2.5 per cent of Gross Domestic Product (GDP) by 2030,” he said.
He added that Malaysia’s position on the global stage continues to improve, with the country rising to 33rd place among 133 economies in the Global Innovation Index 2024 by the World Intellectual Property Organisation (WIPO).
Fadillah also said the government will continue to strengthen the innovation ecosystem through research funding, incentives, talent development and stronger industry-university collaboration to help Malaysia achieve high-tech nation status by 2030.
-- BERNAMA
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