Research institutes should draw up sectoral R&D plans: Chan Chun Sing

RESEARCH institutes such as A*Star and the universities should come up with research and development plans for their respective industry sectors, Minister for Trade and Industry Chan Chun Sing said at the 11th Singapore Economic Policy Forum on Thursday morning.

"R&D translation into commercial products cannot be left to chance," said Mr Chan.

He stressed the need to connect research institutes with industry players so that Singapore can pursue innovation as a strategy for staying ahead in the global economy. Research institutes could also partner with trade associations and chambers to do so, he added.

It was one of eight critical economic strategies for Singapore that he outlined, the rest being summed up as connectivity, rules, Industry 4.0, talent, capability building for firms, agile regulations, and lifelong learning.