Singapore govt to invest heavily in R&D
The Singapore government spent a record $2.3 billion, or 0.87% of its GDP, on research and development in the past year, according to a report by the Agency for Science, Technology and Research (A*STAR). The government has promised to increase that amount to 1% of GDP to make Singapore a global R&B hub and “Asia’s innovation capital” with an economy dominated by entrepreneurs.
Gross expenditure (including private sector spending) on R&D actually fell between 2008 and 2009 thanks to a reduction in the private sector’s capital expenditure from $2 billion to $712 million. Capital expenditure includes one-off purchases of fixed assets such as land, construction and equipment. The government, however, will prop up the shortfall with plans to spend a total of S$16.1 billion (US$12.2 billion) on R&D between 2011-15 as part of its Research, Innovation and Enterprise 2015 plan.
source & article: Straits Times
- Biotech entrepreneurship flourishing in Malaysia
- World Bank Group to open office in Singapore
- ‘Wave’ of FDI flows into Malaysia in 2011
- The Economist: good policies creating a strong Penang
- Senai Hi-Tech Park will help transform Malaysia, says PM Najib
- Could Indonesia overtake Thailand as an auto manufacturer?
- Indonesia to give tax holidays to major foreign investors
- Singapore tightens conditions for foreign workers
- US$4.7bn in major gas projects approved for Indonesia
- Singapore may benefit from financial gloom: survey