SINGAPORE: Singapore will allocate a further S$300mil (US$222mil) to spur research in digital innovation as the government transforms the economy through technology.

The amount, almost double the current budget, is part of the next phase of the National Research Foundation’s five-year plan ending 2020, Minister for Communications and Information S. Iswaran said during a parliamentary session.

It would be used for research in the services and digital economy.“Investment in research and development is essential to help our industries innovate and stay competitive, even as technology rapidly evolves,” he said. It is the city-state’s vision that all businesses, workers and citizens are digitally connected and skilled.

The South-East Asian nation with a population of about 5.7 million is a regional financial hub that’s seeking to attract more businesses and investors through technological advances. — Bloomberg

Source: https://www.thestar.com.my/business/business-news/2019/03/05/singapores-us222mil-digital-push/#ZvdFgq0Y7LSA6g4u.99