Singapore Boosts R&D Spend
According to the government agency's annual National Survey of R&D of some 1,000 organizations, the increase was a "significant jump" from the previous year's rise of 9.3 percent. The country spent S$5 billion (US$3.4 billion) on R&D in 2006, bringing the spending (as a percentage of the country's gross domestic product) from 2.31 percent in 2006 to 2.61 percent in 2007.
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