Mosti aims to increase commercialisation of locally made products to 15%

KUALA LUMPUR: The Science, Technology and Innovation Ministry (Mosti) aims to increase the commercialisation of locally-made products to 15% by 2020.
At present, Its deputy minister Datuk Dr Abu Bakar Mohamad Diah said, only some eight to nine percent of all products that are produced locally were commercialised and have marketable value.
"Our level is quite average. We hope to commercialise 15% (of our products) by 2020," he told a press conference after officiating three local products at the International Greentech and Eco Products Exhibition and Conference, here, today.
Abu Bakar said the low number was largely due to the unwillingness of Malaysians to spend on local products.
"Another factor that could hamper the sale or commercialisation of these products is not having someone who is willing to mass produce these goods," he said.
Meanwhile, Abu Bakar said a total of 71 products have been successfully commercialised so far this year, including a palm oil-based trimethylolpropane ester for engine oil, that was launched today.
He said the green synthetic engine oil will help in cleaning and protecting vehicle engines and also reduce environmental pollution.
He added the oil is environmental-friendly, does not contain toxic, can be recycled and easily disposed compared to petroleum-based oils.