industrial development policy - ChinaGoAbroad

and MTP, which envisage exports to grow by 50% over the
plan period. The current stocks of capital equipment are not
able to meet the export target as studies have revealed that
there is need in some sectors such as the tyre industry for an
overhaul of capital equipment to match the global technology
and developments and improvements.
3.8.2 In addition, it is also proposed that industry invests in Research
and Development on new processes and products which will
result in competitive and cost effective products. It is therefore
proposed that Technology Transfer be incorporated into the IDP
document as a central element not only to ensure growth and
development, but more critically to attain global competitiveness
of our goods and services and also facilitate private sector
participation to enhance commercialization of research and
development from the academia, through increased publicprivate
partnerships for research, development and innovation.
3.8.3 Greater financial support for innovation and technology is
necessary in order to contribute to the national target of
increasing and sustaining Research and Development (R&D)
expenditure to 2% of GDP.
3.8.4 Technology transfer and Research & Development shall be
pursued in a manner that ensures efficient resource utilization
and environmental sustainability. This will be done through
encouraging industrial establishments to use technologies that
minimize industrial emissions, the discharge of solid waste,
and improve waste water management and introduce and
strengthen cleaner production techniques and work practices
in industrial processes by industrial operators including plastic
waste management.
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