Wednesday, October 28, 2009

Intensifying Research, Development and Commercialization

This is an excerpt of 2010 budget speech which concern patent, trademark and research:

Currently, expenditure on R&D activities is at 0.6% of GDP, well below the United States at 3%, South Korea 3.5% and Taiwan 2.4%. To shift towards a high income economy, we need a strong foundation in research, development and commercialisation (R&D&C) activities. Therefore, to strengthen R&D&C activities, the Government will undertake the following measures:

First: Rationalizing all research funds and grants to be more effective to achieve set targets;

Second: Establishing a National Innovation Centre supported by a network of innovation excellence centres under the Ministry of Science, Technology and Innovation and in collaboration with the Ministry of Higher Education;

Third: Integrating R&D activities with patents, copyrights and trademarks registration to ensure R&D&C processes are implemented more effectively. The cooperation between patent and research agencies will expedite the commercialization of research findings; and

Fourth: Providing small and medium enterprises with tax deduction on expenses incurred in the registration of patents and trademarks in the country.

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