Heng urges companies to give innovation a boost

Singapore

SINGAPORE companies are now spending more on research and development (R&D), but there is still more room to improve the innovation ecosystem within which they operate, Finance Minister Heng Swee Keat said on Wednesday.

For them to innovate rapidly and keep Singapore relevant and competitive, these companies will need to forge partnerships and strengthen that innovation eco-system, he said.

Speaking at the Leaders in Science Forum, he noted that on average, business expenditure on research an…