Malaysia’s Ministry of Science, Technology, and Innovation (Mosti) plans to push emerging technology and promote Science, Technology, Engineering, and Mathematics (STEM) education within the framework of Budget 2024. Minister Chang Lih Kang has outlined these focus areas in Mosti’s budgetary proposals.
The initiative signaled Mosti’s plans to support innovation and technological advancement within Malaysia, particularly in nurturing startups. Additionally, the ministry aims to embrace emerging tech trends and promote STEM education to cultivate a skilled and competitive workforce.
“We’re looking to reinforce several areas, starting with the startup ecosystem; we aim to secure more funding,” Chang Lih Kang stated in his announcement at the MTDC tech conference on Tuesday.
“We have other areas of emphasis, like emerging technology, which we hope can drive our country’s development of cutting-edge, state-of-the-art technology. Another significant focus is STEM education, where we aim to instill STEM education,” he added.
The forthcoming Budget 2024, scheduled for presentation in Parliament on October 13, holds several critical priorities for Malaysia. Among these priorities is enhancing the startup ecosystem, marked by a desire for increased funding to nurture emerging entrepreneurs.
Simultaneously, the government is keen on driving technological advancement by investing in emerging technologies. Additionally, STEM (Science, Technology, Engineering, and Mathematics) education is in the spotlight, with a dedicated effort to promote and integrate STEM education into the national curriculum.
Minister Chang Lih Kang has expressed his aspiration for the budget to allocate funds that will aid the government in achieving its ambitious target of having 1.5 million electric vehicles (EVs) on Malaysian roads by 2040.
Presently, the adoption of EVs in the country remains relatively low. To encourage greater EV usage, the government plans to establish 10,000 charging stations by 2025, aligning with the broader global push towards sustainable transportation solutions.
In summary, the Ministry of Science, Technology and Innovation (Mosti) in Malaysia is fully dedicated to fostering innovation, supporting the growth of startups, advancing technology, and nurturing STEM education across the nation.
Mosti is hopeful about the prospective impact of these measures on Malaysia‘s progress in these crucial areas, laying the foundation for a tech-savvy future.