Country sees Innovation Centre as a hub to promote innovation across all areas of its economy
Prime Minister Datuk Seri Najib Tun Razak announced the plans to create the National Innovation Centre (MyNIC), and that the proposal will soon be presented to the Cabinet. MyNIC would focus on innovation across multiple industries, including IT, agriculture, and communication technologies. The country is looking to build a more formal Centre to represent the already active R&D activities taking place between the university and private sectors. Malaysia is looking to build on its successful completion of its National Biotechnology Policy, which was implemented in 2005. From 2005 to 2010, the country notes that biotech-related activites comprised 2.2% of its GDP, which is close to its set goal of 2.5% by the coming year.
