Revised budget can strengthen Malaysia’s position globally – MRANTI
26 Feb 2023
The revised Budget 2023 can strengthen Malaysia’s position globally in key areas of environmental sustainability, health and food security, with innovation as a core enabler, said the Malaysian Research Accelerator for Technology & Innovation (MRANTI).
Chief executive officer Dzuleira Abu Bakar said in a statement that the allocation of RM428 million for research and development (R&D) activities under the Ministry of Higher Education and the Ministry of Science, Technology and Innovation to address sectorial and societal challenges is timely.
“It will accelerate innovation on the back of ‘impact technologies’ in key industrial sectors, for sustainable development and the rakyat’s well-being, by transforming ideas and innovation to impact.
“Through innovation in new fields, and support by the government in planning and policy matters, Malaysia can be an exciting investment destination,” she said.
Dzuleira said the government’s move to support sustainability start-ups and green-tech companies with a RM2 billion funding will help MRANTI to draw in and enable companies with such principles.
“This strategic move will help Malaysia differentiate itself in the global market as there is a pressing need worldwide for solutions that uphold planetary health,” she said.
She said in agri-tech, the RM50 million matching grant to encourage the automation of the plantation sector through the use of robotics and artificial intelligence is an important instrument to elevate Malaysia’s growth in core industries.
“The government’s subsidies and incentives for the agriculture and fisheries industry and implementation of various initiatives to improve food supply, including high-tech fresh agricultural produce for agro-food operators in Budget 2023 will also help strengthen Malaysia’s competitiveness in this area,” she added.