(Mar 4): Singapore will allocate a further $300 million 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 Monday. It will 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, he said.