Singapore's expenditure on R&D recorded a new high of 7.4 billion dollars last year
Singapore's expenditure on R&D recorded a new high of 7.4 billion dollars last year.
This was a 14.8 per cent increase from 2010.
According to the National Survey of R&D 2011, R&D spending has been growing annually since 2002.
The bulk of R&D spending in Singapore last year, at 4.6 billion dollars, came from the private sector.
The amount represents a 17.2 per cent increase from 2010.
Dr Raj Thampuran, Managing Director of A*STAR, the Agency for Science, Technology and Research, said the record high expenditure on R&D by the private sector is a testimony of Singapore's value proposition for open innovation through public-private partnerships.
It also demonstrates our ability to raise the competitiveness of industries and make steady progress towards an innovation economy.
Public sector R&D spending accounted for the rest.
A*STAR said it reflects the Government's continued commitment to R&D as our future development strategy.
Singapore's gross expenditure on R&D as a percentage of GDP in 2011 was 2.3 per cent.
This means we are moving into the ranks of research-intensive countries such as Finland, Sweden and Denmark.
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