29 Nov '11, 9am

S'pore needs to increase national R&D expenditure

SINGAPORE: Singapore's Prime Minister Lee Hsien Loong said the country needs to increase the national research and development (R&D) expenditure to 3.5 per cent of GDP by 2015 - a target which is comparable to other research-intensive countries. PM Lee spoke of the importance of R&D in creating growth and enhancing life, at the launch of Singapore's Agency for Science, Technology and Research's (A*STAR) 20th anniversary commemorative publication. Mr Lee said that more than before, knowledge is a key competitive advantage especially as the Singapore economy matures. He added that R&D has helped overcome Singapore's limitations of size by out-thinking and out-smarting competitors, hence, the importance of continuing to invest in R&D. Mr Lee said: "The investments have paid off for us or are starting to pay off for us. R&D has boosted our competitiveness amidst rising competi...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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