MOSTI committed to implementing 12MP initiatives, generating economy through science, technology and innovation

MOSTI committed to implementing 12MP initiatives, generating economy through science, technology and innovation
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KUALA LUMPUR (Sept 28): The Ministry of Science, Technology and Innovation (MOSTI) is committed to implementing and succeeding the initiatives of the 12th Malaysia Plan (12MP) which have been tabled in line with its function as a leader in science, technology, innovation and economy (STIE).

It said the strategies under the policy catalyst to develop future talent and accelerate the adoption of technology and innovation outlined in the 12MP are very much in line with the country's recovery efforts, especially to regenerate the Covid-19 post-pandemic economy.

"The planned strategies will boost development, research and commercialisation efforts as well as develop innovative local talents to support local technology development in line with the National Policy on Science, Technology and Innovation (NPSTI) 2021-2030," it said in a statement on Tuesday. 

It said the strategy would also help Malaysia become more competitive to meet global challenges, thus becoming a high-income and high-tech country with skilled employment towards achieving inclusive growth.

Currently, MOSTI said it was on the right track in making Malaysia a high-income and high-tech country.

"This great aspiration is supported by NPSTI 2021-2030, as well as the 10-10 Malaysian Science, Technology, Innovation and Economy (MySTIE) Framework which was launched on Dec 8, 2020," it said.

The combination of both NPSTI and MySTIE will ensure that the advancement of science and technology moves, in line with the country's economic growth.

"STIE as a driver of change is able to support the country's economic growth by aligning research and development for commercialisation, wealth creation and economic growth," it said.

In this regard, he said the 12MP had set six selected targets related to the ministry to be achieved in 2025, including 2.5% of gross expenditure on research and development (GERD) to gross domestic product (GDP); 70% of research and development expenditure by the private sector to GERD and 130 researchers per 10,000 labour force.

Therefore, MOSTI also welcomes efforts to provide support to more local talent who are able to create technology to support the growth of local industries through research, development, commercialisation and innovation.

It said this initiative would reduce the country's dependence on foreign technology as well as increase the country's source of income.

In this regard, core technological capabilities such as artificial intelligence, Internet of Things (IoT), blockchain, advanced materials and technologies and big data analytics are given emphasis covering related ecosystem development including talent development, funding and incentive of domestic investment by governments and industry players,” it said.

It added that the empowerment of core technologies will serve as a disruptive medium that encourages innovation in new fields, enabling economic growth that will facilitate and support government planning and policies in facing the Fourth Industrial Revolution, thus making Malaysia a high-tech nation.