The Malaysian Investment Development Authority (MIDA) has partnered with Nottingham MyResearch Sdn Bhd to organise an outreach programme to further promote the importance of investing in research and development (R&D).
Nottingham MyResearch is R&D status company approved by MIDA and is a fully-owned subsidiary of The University of Nottingham in Malaysia (UNMC).
In a statement Wednesday, MIDA said as the government's principal agency to spearhead the national investment agenda, it has been promoting investments in R&D spending for many years.
Its Second Deputy Chief Executive, N. Rajendran said MIDA wanted to develop strong R&D linkages between the industry and tertiary and research institutions by encouraging and nurturing partnership.
He said such collaborations would lead to higher research value integration that would be translated into commercialisation and drive the growth of companies and the country.
Rajendran said MIDA's R&D incentives programmes could be enjoyed by any investors who want to set up research as a service or have an R&D office within the company.
To date, MIDA said it has approved 150 R&D projects comprising 68 Contract R&D, 44 in-house R&D and 26 R&D companies with total investments of RM2.21 billion and expected to create about 5,000 employment opportunities.
These projects were mainly in healthcare, biofuel, machinery, electrical and electronics, automotive, mining, energy, medical devices, palm oil, agriculture and food production industries, it added.
Meanwhile, Vice Provost at UNMC and Chief Executive Officer of MyResearch, Professor Graham Kendall said the company provided a tax efficient way for companies to invest in R&D.
"We have world experts in many areas, and companies are able to benefit from our expertise and knowledge," he said.