Singapore to continue research with $13.2bn

Singapore's Research, Innovation and Enterprise Council has approved a $13.2bn commitment from the government to support research and innovation over the coming five years.

The government of Singapore is to invest S$19bn ($13.2bn) to support and translate research, use science and technology to address national challenges and boost local innovation.

Dubbed Research, Innovation and Enterprise Plan 2020, the project secured funding at the ninth annual meeting of the Research, Innovation and Enterprise Council (RIEC). It was announced by Lee Hsien Loong, prime minister of Singapore and chairman of the council.

RIEC was set up in 2006 to provide a strategic direction for Singapore's national research and development. Members of the council serve two year terms advising on policies and strategies to support the economic growth and capability of Singapore.

The government of Singapore previously committed S$16.1bn for the period between 2011 and 2015 to support national research and development efforts.

A statement released by RIEC said: “Through these plans, RIE2020 will build a strong foundation for other major national programmes. These include the Committee on the Future Economy and its goal of creating good jobs and opportunities amidst technological change and new economic challenges, and our smart nation journey to leverage technology to improve quality of life for all.”

See more from this Government Report: Singapore

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