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| Friday, 14 December 2012, 23:00 HKT/SGT | |
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Source: A*STAR | |
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| R&D raises the competitiveness of the Singapore economy and drives productivity and growth |
SINGAPORE, Dec 14, 2012 - (ACN Newswire) - Singapore's gross expenditure on R&D (GERD)[1] recorded a new high of S$7.4 billion in 2011, according to the National Survey of R&D, 2011, produced by the Agency for Science, Technology and Research (A*STAR). It was a 14.8% growth from S$6.5 billion in 2010.
The compound annual growth rate (CAGR) of GERD from 2002 to 2011 was 9.1%. This reflects sustained growth in R&D investments in Singapore.
In 2011, the Business Expenditure on R&D (BERD), which is a measurement of private sector investment in R&D, grew by 17.2% (year-on-year) from S$3.9 billion in 2010 to S$4.6 billion in 2011. This is a good indication of the high value-added activities in Singapore and points to the growing competitiveness here. It also suggests that Singapore is a good location for innovation-led activities across many different sectors in manufacturing and services.
The Public Expenditure on R&D (PUBERD) in 2011 increased to S$2.8 billion, up from S$2.5 billion in 2010. It reflects the Government's continued commitment to R&D as our future development strategy.
A*STAR's Managing Director Dr Raj. Thampuran 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."
Singapore's gross expenditure on R&D (GERD) as a percentage of GDP in 2011 was 2.3%. We are moving into the ranks of research-intensive countries in the world such as Finland, Sweden and Denmark.
Background
More than 1,000 organisations participated in the survey. They comprise private sector companies, government organisations, local institutions of higher learning and public sector research institutes. The full report can be downloaded at A*STAR's website at www.a-star.edu.sg/Portals/0/media/RnD_Survey/RnD_2011.pdf .
Please see the full press release at http://sg.sg/Zo7Sg2 .
[1] Gross Expenditure on R&D (GERD) = Business Expenditure on R&D (BERD) + Public Expenditure on R&D (PUBERD)
Contact:
Ong Siok Ming
Senior Officer, Corporate Communications
Agency for Science, Technology and Research (A*STAR)
Tel: +65 65 6826 6254 (Office) / +65 9733 7434 (Mobile)
Email: ong_siok_ming@a-star.edu.sg
Dr. Sarah Chang KC
Corporate Communications
Agency for Science, Technology and Research
Tel: +65 6826 6442 (Office) / +65 9762 7818 (Mobile)
Email: chang_kai_chen@a-star.edu.sg
Topic: Research and development
Source: A*STAR
Sectors: Science & Research
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From the Asia Corporate News Network
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