To spur investment, various incentives and grants are provided to encourage more R&D activities in the areas of electrical and electronics, machinery and equipment, chemical, medical and aerospace.
|Pillar 12 : Innovation||25||4.4||21||4.7|
|Capacity for Innovation||15||4.9||13||5.2|
|Quality of Scientific Research Institutions||27||4.9||20||5.2|
|Company Spending on R&D||17||4.6||9||4.9|
|University-Industry Collaboration in R&D||16||5.0||12||5.3|
|Government Procurement of Advanced Technology Products||4||4.8||3||5.2|
|Availability of Scientist and Engineers||19||4.9||9||5.2|
|Utility Patents Granted per Million Population||31||12.1||32||12.6|
The Global Competitiveness Report 2014-2015 has moved Malaysia up four notches from 24 th place out of 144 countries in 2013-2014 to 20th place in 2014-2015. Malaysia’s progress can be best seen in how it scored in Innovation. The report showed that the nation improved in each of the criteria measured with a score of 4.7 out of 7 points in Pillar 12 : Innovation.
For the first half year of 2015, total investment in R&D projects amounted to RM64.96 million in 3 approved projects which created a total of 47 high income jobs. Accumulative approval from 1995 until 2014, totaled RM2.3 billion with 162 projects approved providing 5,342 jobs.
The 11 th Malaysia Plan 2016-2020, will focus on translating innovation to wealth through strengthening relational capital to foster stronger linkages, collaboration and trust among stakeholders. Stronger relational capital will improve coordination and enable the sharing and testing of ideas across multiple stakeholders and disciplines which will improve the national innovation ecosystem. This enables Malaysia to bring creative outputs to market and share the available resources. This is indeed in line with the National Science, Technology and Innovation Policy aims for Malaysia to achieve Gross Expenditure on R&D (GERD) of at least 2.0 percent by 2020.