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SINGAPORE – A $ 25 billion plan was launched on Friday (December 11) charting the country’s research landscape, a critical investment that will help the economy emerge stronger from the shadow of Covid-19, while simultaneously ensures that the country strengthens its defenses against future threats.
Among the plans is a national effort to help Singapore respond swiftly to future infectious diseases.
The pandemic has accelerated technology trends and structural changes that will reshape the global economy and create new challenges for societies, Deputy Prime Minister Heng Swee Keat said at a press conference to present the Research, Innovation and Enterprise (RIE) 2025 plan. .
“Science, technology and innovation will be critical in overcoming Covid-19 and in allowing us to emerge stronger,” said Heng, who is also president of the National Research Foundation (NRF).
The five-year plan will focus on four key areas: health, sustainability, digital economy and manufacturing; with strong support for basic research. A third of the budget will go to basic research, the benefits of which may not be immediately obvious.
The $ 25 billion in the plan is equivalent to about 1 percent of the nation’s gross domestic product. This ratio has remained relatively constant over the years and places Singapore’s public investment in research on par with other small advanced economies such as Sweden and Denmark, the NRF said.
Heng said that a third of RIE’s total budget will be dedicated to basic research, for RIE2025 and beyond.
“The importance of the results of basic research may not be immediately obvious, but they form the basis for subsequent advances,” he said.
The four key domains of the EIR are human health and potential; manufacturing, commerce and connectivity; urban solutions and sustainability; and smart nation and digital economy. The scope of each domain will be expanded to meet the broadest spectrum of national needs, he said.
For example, research on manufacturing will now also include studies on the air and maritime links that connect Singapore to the rest of the world, while urban solutions and sustainability will now include research on the new challenges posed by climate change.
The health and biomedical sciences have expanded to human health and the potential to address a key national priority: a rapidly aging population, Heng noted.
“We seek to bring out the best in each individual by focusing on improving prenatal and early childhood development, learning outcomes in children and adults, and the health and contribution capacity of our older adults.”
In addition to the four areas, $ 3.75 billion will also be set aside for “white space” research, up from $ 2.5 billion in RIE2020. This is funding dedicated to new or emerging research areas that may emerge in the coming years and is open to proposals from all agencies.
The compromise underscores the importance of research even in tough times, said NRF chief Low Teck Seng.
During the current crisis, he noted, Singapore’s scientific community had recovered even during the early stages of the pandemic, moving away from its original research areas and applying its expertise to Covid-19.
Diagnostic test kits were developed in record time, treatments were tested and clinical trials are underway for a locally developed Covid-19 vaccine.
“Investments in science and technology are an investment in the future,” added Professor Low, noting that such investments could also create good jobs for Singaporeans and enhance and contribute to the growth of the nation’s GDP.
For example, investing in water technologies not only helped this water-scarce nation overcome its resource limitations, it also created a thriving industry.
In 2018, Singapore’s water industry contributed $ 2.5 billion to the economy and created some 14,400 jobs.
In a Facebook post on Friday, Prime Minister Lee Hsien Loong said that a scientific mindset is critical.
Noting that astronomers had discovered mysterious circles in the cosmos using a massive new radio telescope in Western Australia, he said: “Whether discovering mysterious radio emissions or developing vaccines against Covid-19, science is exciting and important.
“The scientific mindset, exploring the world and understanding it rationally and empirically, is crucial for Singapore. This is true not just in R&D work, but more fundamentally in the spirit of our entire society.”
Lee, who chaired the Research, Innovation and Enterprise Council meeting on Thursday evening, added: “Our continued investments in R&D will maintain our competitiveness and reinforce our status as a center for technology and innovation … With deep uncertainties RIE2025 will be a crucial differentiator in refreshing our economic strategy and securing our future for a post-Covid world.
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