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To meet the challenge of enhancing Malaysia's S&T base various institutions have been established and funding channelled to key sectors that are considered to be future growth industries -electronics, multimedia and information technology. The Malaysian government encourages direct foreign investment particularly in export-oriented manufacturing and high-tech industries, but retains considerable discretionary authority over individual investments. The Multimedia Super Corridor is the Government's first major investment in its technology-based future. As it did when initiating the electronics industry in Malaysia,the Government welcomes foreign investment of dollars and technical expertise in the MSC. To date, 110 companies have been awarded MSC status requiring a commitment to support research and development and physically reside within the MSC. MSC provides infrastructural facilities and other support and incentives to attract investors. Other institutes include MIMOS, MTDC and many more.
To meet the challenge of enhancing Malaysia's S&T base various institutions have been established and funding channelled to key sectors that are considered to be future growth industries -electronics, multimedia and information technology. The Malaysian government encourages direct foreign investment particularly in export-oriented manufacturing and high-tech industries, but retains considerable discretionary authority over individual investments.
Although the Government offers various financial incentives and assistance such as in the form of seed money and grants as well as the indirect incentives in the form of tax rebates and pioneer status, the adequacy of these incentives needs to be assessed. At the moment, the involvement of the financial community with regards to the funding of R&D can be considered to be low. Due to the nature of high-technology ventures (capital and manpower intensive in highly skilled areas), a greater involvement of the financial institutions is expected. Hence, the future development of R&D incentives should take into account a bigger role for the financial community, in addition to the present set of fiscal and monetary incentives.