Budget 2024: More than S$11 billion to be injected into R&D, AI, finance, clean energy

• RIE2025 plan to receive additional S$3 billion in funding, bringing total to S$28 billion

• More than S$1 billion to be invested under the National AI Strategy 2.0

• S$2 billion top-up to Financial Sector Development Fund; S$5 billion initial investment into Future Energy Fund

FINANCE Minister Lawrence Wong announced investments of more than S$11 billion into national research and development (R&D) efforts, as well as the artificial intelligence (AI), finance and clean energy sectors, in his Budget speech on Friday (Feb 16).

The government will inject S$3 billion into the Research, Innovation and Enterprise 2025 (RIE2025) plan for important segments such as advanced manufacturing, sustainability, the digital economy and healthcare.