Kuala Lumpur (VNA) - Malaysia is expanding its investment in research and development (R&D) as part of its push to become a high-technology nation by 2030, said Malaysian Deputy Science, Technology and Innovation Minister Datuk Mohammad Yusof Apdal.
The official was quoted by local media as saying that Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector.
The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation, Mohammad Yusof said in his speech at the soft launch of the ASEAN Technology Cooperation and Development Summit 2025.
He said the mission of the Science, Technology and Innovation Ministry (Mosti) is anchored in a vision to transform Malaysia from a technology user into a technology developer with global market capabilities by 2030. Mohammad Yusuf said the government is accelerating real-world innovation with the National Technology and Innovation Sandbox (NTIS), providing a platform for pre-commercial technologies to be tested and adapted at scale.
Since its inception, the NTIS has supported numerous innovative solutions, focusing on applications ranging from precision drones to AI diagnostics and renewable energy systems.
Additionally, Malaysia is investing in talent as an estimated 600,000 Malaysians will need to be reskilled over the next three to five years due to artificial intelligence and automation.
The ASEAN Technology Cooperation and Development Summit 2025, to be held on November 25 and 26 in Kuala Lumpur, will focus on five pillars – future mobility and smart transportation, future healthcare and digital medicine, future consumer and digital commerce, future building and safety emergency response, and future employment and entrepreneurship.
The two-day event is set to convene over 100 companies, more than 50 global investors, and 2,000 innovators and ecosystem leaders from ASEAN, China, Canada, Australia, the Middle East, Europe and Japan. It will feature a technology exhibition with over 100 booths highlighting innovations across key sectors. The summit is expected to attract more than 50,000 livestream viewers./.
BRICS countries account for over 35% of Malaysia’s total foreign trade turnover
Investment from BRICS countries amounted to 104.9 billion RM last year, the Malaysian Ministry of Investment, Trade and Industry said, noting that BRICS partner status allows Malaysia to explore new market access and attract additional capital.
