Accra:The government's focus on bolstering the technology and innovation ecosystem through Budget 2027 is set to enhance the shift from research and development to commercialisation, industry adoption, and economic value, noted MIMOS Bhd.
According to BERNAMA News Agency, the government's commitment to advancing Malaysia's technology and innovation, particularly through the Finance Ministry and the Science, Technology and Innovation Ministry, is expected to boost the country's R&D capabilities, foster home-grown technologies, and translate innovation into economic and social benefits.
The budget has allocated RM6 billion for R&D and commercialisation activities across ministries, while Khazanah Nasional Bhd and Kumpulan Wang Persaraan will invest RM1.2 billion to help local semiconductor companies advance into higher-value segments. Additionally, RM30 million has been allocated through the Malaysian Digital Economy Corporation to support 4,000 micro, small, and medium enterprises in adopting AI and automating their operations.
MIMOS highlighted the importance of connecting research capabilities with national industrial priorities and market demand, focusing on developing higher-value technology capabilities and strengthening local companies. President and Group CEO Dr Saat Shukri Embong emphasized the need for these capabilities to result in commercial outcomes, stronger Malaysian intellectual property, and economic value.
Dr Saat Shukri stated that the RM6 billion commitment is crucial for enhancing Malaysia's technological sovereignty by developing home-grown technologies and creating greater value from Malaysian innovation. MIMOS's Deputy Group Chief Executive Officer Abdul Rashdee Abdul Kadir added that technology adoption should address real business challenges to increase productivity gains.
Deputy Group Chief Executive Officer Nurezmy A. Majid stressed the necessity of a coordinated ecosystem involving government, industry, academia, and R&D institutions. She pointed out that Budget 2027 offers a chance to strengthen these linkages to align national investments in technology with Malaysia's broader economic priorities.
From a technological standpoint, MIMOS Group Chief Technology Officer Dr Zulaikha Kadim noted the government's emphasis on quantum technology in the budget, underscoring the need to build expertise in strategic technologies like AI and semiconductors. Dr Zulaikha advocated for strengthening the capacity to develop and commercialise technologies with Malaysian IP.
Dr Hazian Mamat, MIMOS Group Chief of Corporate Planning and Strategy, suggested that the outcomes of Budget 2027 should be tracked using indicators such as industry adoption, technology readiness, and commercial returns to ensure meaningful contributions to Malaysia's long-term competitiveness.