February 29, 2024

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Malaysia Driving Innovations in Science & Technology

Malaysia’s Ministry of Science, Technology, and Innovation (Mosti) has greenlit 116 applications for research and development (R&D) projects, with a total allocation of RM257 million. The Minister of Science, Technology and Innovation disclosed that these applications, sourced from science, technology, and innovation-related entities, including companies and institutions of higher learning, were processed through the Integrated Fund System (SDB) digital platform, adopted in July 2021.

Image Credits: Selangor Journal (Facebook, Kementerian Sains/Teknologi Dan Inovasi, Article

The minister stressed the imperative for R&D outcomes to surpass conventional boundaries, urging a focus on commercialisation to translate government investments into tangible socio-economic advancements. Speaking at the Research, Development, Commercialisation, and Innovation (R&D&C&I) Convention, the SDB digital platform was launched.

This platform offers five financing schemes, including the Applied Innovation Fund (AIF), Technology Development Fund 1 (TeD1), Technology Development Fund 2 (TeD2), Bridging Fund, and Strategic Research Fund through Implementing and Monitoring Agencies (SRF-APP). Currently, the platform boasts an impressive 23,000 registered users.

Mosti’s commitment extends beyond approval, with periodic monitoring of R&D projects to ensure the timely achievement of objectives. Each funding category adheres to specific timeframes, ranging from 12 to 36 months for project implementation.

Simultaneously, the state of Selangor is poised to elevate its manufacturing sector by embracing cutting-edge technologies such as automation, artificial intelligence (AI), and other Fourth Industrial Revolution (IR 4.0) advancements.

The region’s Menteri Besar outlined this vision during the state assembly, asserting the enduring importance of the manufacturing sector amid the transition towards a more service-based economy.

While acknowledging the evolving economic landscape, the Menteri Besar stressed the need for modernisation in manufacturing processes, particularly in sectors reliant on mass labour. He highlighted the state’s commitment to high-tech advancements, indicating a shift towards technical and professional programs collaborating with various institutions to develop a high-value manufacturing sector grounded in IR 4.0 technologies.

In addressing the evolving economic landscape, Menteri Besar expressed plans for an augmented emphasis on high technology within technical and professional programs. This strategic approach involves forging collaborations with various institutions to foster the development of a high-value manufacturing sector anchored in IR 4.0 technologies, automation, artificial intelligence (AI), and other comparable advanced technologies.

The official also shed light on promoting smart industrial parks, a pivotal aspect featured in the recent Selangor International Business Summit (SIBS). Selangor aims to position itself as an attractive destination for industries looking to relocate, particularly from less stable regions.

The state’s ambitious plans under the First Selangor Plan (RS-1) for 2024 underscore its commitment to harnessing technology for economic growth. The emphasis on automation, AI, and IR 4.0 technologies aligns with global trends, positioning Selangor as a forward-looking hub for high-tech manufacturing.

As Malaysia strides forward in R&D initiatives, Selangor’s focus on technological advancements signals a concerted effort to stay at the forefront of the evolving industrial landscape, with a vision that transcends conventional manufacturing paradigms.

OpenGov Asia earlier reported that Selangor will contribute a substantial 1 to 1.5 gigawatts (GW) to the country’s electricity grid in the coming years, as announced by the Menteri Besar. The contribution is part of the broader Malaysia-United Arab Emirates partnership, aiming to achieve 10 GW in renewable energy capacity, with a staggering value of US$8 billion (RM37.76 billion) by 2025.

Selangor’s active engagement with stakeholders from Abu Dhabi resulted in fruitful discussions that positioned Selangor to play a pivotal role in this ambitious venture. Through its subsidiary Worldwide Holdings Bhd, the state is already involved in 10 pilot projects valued at RM10 billion, focusing on diverse green technologies such as solar power, mini-hydro plants, and hydrogen production.

These initiatives align with Malaysia’s commitment to a sustainable future, contributing significantly to the nationwide renewable energy targets. The emphasis on green technology reflects Selangor’s dedication to environmental stewardship and innovation in the energy sector.


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