KUALA LUMPUR, July 9 (Bernama) -- The government should give funding more freely to industries or companies which have the potential to carry out research and development (R&D), said former Prime Minister Tun Dr Mahathir Mohamad.
Such funding would encourage them to do more research in various fields, said Dr Mahathir in his speech at the launching of Iris Environmental Solutions here, Thursday night.
He added that although the government had allocated a lot of money to fund R&D, it should not expect instant results.
Meanwhile, Energy, Green Technology and Water Minister Datuk Peter Chin Fah Kui, who launched the event, in a news conference later, said that the government would support any R&D project which had potential and would benefit the people.
"We should look at the project. If it has potential and has chance to succeed, I think we should support. We had to be liberal a bit," he said.
Earlier, in his speech, Peter Chin said it was very encouraging to note that companies such as Iris Corporation Berhad had taken the initiative to use renewable energy as part of their environment friendly solutions.
Iris new range of environmental solutions encompass clean potable water, food, heat, renewable energy and a cost efficient waste management system.
"It is my hope that we shall have more active participation of the private sector in the application of green technologies to improve their economic competitiveness as well as contribute toward a sustainable future for us all," he added.
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