KUALA LUMPUR: Malaysia spends more money on research and development than Finland but produces far fewer innovations than the latter, according to an independent public policy research and advocacy organisation.
He was speaking to FMT after a forum titled “Promoting Innovations in Malaysia Baru” organised by the Institute for Democracy and Economic Affairs today. Meanwhile, former president of the Malaysian Intellectual Property Association P Kandiah said in addition to a lack of language skills, some science and technology students in local universities are not being exposed to the concept of intellectual property rights.
Mohamed Ikhwan Shahdzul Bakri, director of MyIPO, said unlike Japan where 80% of the IPs are owned by locals, in Malaysia only 15% of IP rights are owned by locals.