Budget 2027 should accelerate transition from R&D to Malaysian technology, says Mimos

Malaysia's Budget 2027 is expected to propel the country's shift from R&D to commercialization of technology, according to Mimos Bhd. The government's emphasis on bolstering the technology and innovation ecosystem in the budget provides a chance to transform research and development efforts into commercial viability and economic benefit, Mimos stated.

The allocation of RM6 billion towards R&D and commercialization activities by various ministries, coupled with Khazanah Nasional Bhd and Kumpulan Wang Persaraan's RM1.2 billion investment in local semiconductor companies, is anticipated to elevate Malaysia's technological capabilities. This budget also earmarks RM30 million for the Malaysian Digital Economy Corporation (MDEC) to assist 4,000 micro, small and medium enterprises (MSMEs) in adopting artificial intelligence (AI) and streamlining operations.

Mimos President and CEO Dr Saat Shukri Embong emphasized the importance of converting these technological advancements into practical solutions for businesses, creating higher value for Malaysian innovation. Mimos Deputy Group Chief Executive Officer and Group Chief Operating Officer Abdul Rashdee Abdul Kadir highlighted the need for technology to address real business challenges, thereby enhancing productivity, efficiency, and competitiveness.

Meanwhile, Deputy Group Chief Executive Officer and Group Chief of Staff Nurezmy A. Majid stressed the necessity of a coordinated ecosystem involving government, industry, academia, and R&D institutions to ensure successful technology development. Dr Zulaikha Kadim, Mimos Group Chief Technology Officer, underscored the significance of focusing on strategic technologies like AI and semiconductors that can be developed, validated, and commercialized to secure Malaysia's competitive edge globally.

Lastly, Dr Hazian Mamat, Mimos Group Chief of Corporate Planning and Strategy, advocated for tracking the Budget 2027 outcomes using key indicators such as industry adoption, technology readiness, Malaysian IP development, private-sector involvement, and commercial returns. The goal is to ensure that every innovation investment contributes meaningfully to Malaysia's long-term competitiveness.