S'pore sets record $19 bn for R&D
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SINGAPORE - A record $19 billion has been budgeted for Singapore's science and technology research for the next five years. The figure represents 1 per cent of the nation's gross domestic product.
Prime Minister Lee Hsien Loong revealed this on Friday when he announced the Research, Innovation and Enterprise (RIE) 2020 plan - Singapore's sixth roadmap for research and development.
"RIE will continue to be important to secure our future," said PM Lee, who chairs the Research, Innovation and Enterprise Council. "In the RIE2020 plan, we are making four major shifts to capture more value from our investments and research - to make research more effective and to get more results from them."
