A committee of MPs tasked with examining government spending has said the Government should exercise strong discipline in order to extract value from research, innovation and enterprise investments.
It noted that 50 of the large local companies here contributed to only about 15 per cent of business expenditure on R&D in Singapore in 2017. In the Netherlands, the top 30 Dutch companies contributed 48 per cent of Berd in the same year. It acknowledged the Finance Ministry's explanation that cross-country comparisons on Berd were not always useful due to their different industry mix and economic contexts. But more could be done to push for the uptake of technology and R&D by local companies, it said.
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