SINGAPORE -- Singapore pledged Friday to boost research and development investment by 20 percent during the next five years as the city-state seeks to develop bio-medical, water technology and multimedia industries.The government plans to spend 16.1 billion Singapore dollars ($12 billion), or 1 percent of gross domestic product, from 2011 to 2015, up from the SG$13.6 billion it spent during the last five years, Prime Minister Lee Hsien Loong said at a news conference. Full story
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