Research and development activities in the manufacturing industry in Singapore

Abstract

Singapore recognised that industry-driven research and development (R&D) would contribute to current and future international economic competitiveness, thus much emphasis had been given to R&D in the various industries in Singapore. Therefore, the team had proposed to study the R&D activities in the manufacturing industry of Singapore as a final year project. The main objectives of the study were: * To trace the development of R&D activities * To evaluate the government's role in promoting R&D work * To determine the reasons why companies set up R&D operations * To study the accounting treatment and tax incentives for R&D expenditure * To look at future plans for growth in the R&D industry In recent years, various industries had raised their expenditure on R&D work, gross expenditure on R&D (GERD) had soared from $374.7 million (0.9% of GNP) in 1987/88 to $638 million (1% of GNP) in 1990. Although R&D expenditure had increased, it was still less than that of industrialised economies and fellow newly industrial~sing economies.