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Budget 2023: MoF seeks feedback on utilisation of local R&D outcome

01/09/2022 03:54 PM

KUALA LUMPUR, Sept 1 (Bernama) -- The Ministry of Finance (MoF) is inviting all parties to provide feedback to the Budget 2023 Public Consultation Paper (PCP) titled “Goods, Services and Technology Utilisation Policy from Local Research and Development (R&D) Outcome in Government Procurement.”

The MoF said in a statement today the PCP issued aimed to protect and develop local industries, reduce dependency on imported goods and create business opportunities.

Besides that, it is also aimed at increasing competitiveness and resilience as well as develop capabilities of local technology companies as well as support the technology transfer, commercialisation and marketing ecosystem from the local R&D outcome, the ministry said.

Hence, all parties are invited to give their feedback on the PCP through the link, before or on Sept 15, 2022.

“The publication of the PCP is part of the ministry's overall effort to make the annual budget preparation process more transparent and with the involvement of all parties,” it said. 

The MoF also said the government is confident the publication of the PCP will provide more opportunities for stakeholders to provide their respective feedback to enable the government to formulate an annual budget that fulfils the needs of the people, as well as in line with the country's socio-economic development policy.


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