KOTA TINGGI,. The Ministry of Science, Technology and Innovation (Mosti) hopes to get a higher allocation from the upcoming Budget 2023 so that it can commercialise research and development (R&D) activities as well as drive startup companies.
Its minister Datuk Seri Dr Adham Baba said his ministry submitted a proposal via a consultation session with the Finance Ministry on Aug 31.
“We have submitted various viewpoints, such as that the R&D element can no longer be at the fundamental stage and that it must now be at the commercial stage. We must transition to that of a producing country instead of a consuming one as new technologies can provide jobs to the people.
“So, I have brought up the issue that new technology startup companies be given space next year to make progress on their R&D,” he told reporters after a Keluarga Malaysia Merdeka event here yesterday night.
Dr Adham, who is also a member of parliament for Tenggara, said Mosti has also been asked by the Finance Ministry to reorganise its strategies to ensure it receives a higher allocation.
Budget 2023 will be tabled in parliament on Oct 7.