KUALA LUMPUR, Sept 11 — The Ministry of Finance (MoF), the Ministry of Science, Technology and Innovation as well as stakeholders have identified the importance of marketing local research and development (R&D) results through a more strategic and systematic approach.

According to the Laporan Kewangan Rakyat released today, the Ministry of Finance said all the technological discoveries and solutions that have been produced in the R&D phase need to be commercialised and matched with real user needs.

"Among the country’s new growth areas that have been identified is the 10-10 Science, Technology, Innovation and Economy Framework (10-10 MySTIE) which has great potential to be developed through R&D with the aim of accelerating the recovery and growth of the country’s economy,” said the ministry.

It also said that the government emphasised the Industry4WRD, the Shared Prosperity Vision 2030, the 12th Malaysia Plan and the National Investment Aspiration.

Recently, the MoF published its fifth public consultation paper in drafting Budget 2023, entitled "Policy on the Use of Local Research and Development Products, Services and Technology in Government Procurement”.

The MoF said the purpose of publishing the consultation paper is to listen to suggestions and views of industry players and the public.

Malaysians are invited to submit feedback before or on Sept 15, 2022, via https://forms.gle/TpfMyJNC3qKbq7ww6.

For more information, visit https://budget.mof.gov.my/bajet2023/kertaskonsultasi/. — Bernama