BiotechCorp aims for RM5b investment next year
The Prime Minister visited the exhibition on bio-products at BioMalaysia & Bioeconomy Asia Pacific 2014 Conference and Exhibition. – Foto Aizuddin Saad
KUALA LUMPUR: Malaysian Biotechnology Corporation Sdn Bhd (BiotechCorp) hopes to clinch at least RM5.0 billion investment next year bolstered by its three strongest segments — agriculture, industrial and pharmaceuticals.
Chief executive officer, Datuk Dr Mohd Nazlee Kamal said although Malaysia was competing with regional countries in securing biotechnology-based investment, he was confident of achieving the target given the country’s competitive edge in business strategy, coordination and supporting mechanism.
“We’re selective in bringing and choosing investors as we want high impact projects especially as we enter the third phase of the National Biotechnology Policy (NBP) in 2016,” he told reporters after the launch of BioMalaysia and Bioeconomy Asia Pacific 2014 Conference and Exhibition by Prime Minister Datuk Seri Najib Tun Razak here, today.
Also present was Minister of Science, Technology and Innovation, Datuk Dr Ewon Ibin.
Mohd Nazlee added the original investment target of RM15 billion for the third phase of NBP from 2016-2020 would also be revised upwards since the approved investment in phase two had surpassed RM18 billion.
Total approved investments in Malaysia’s bio-based industry from 2011 to date has more than doubled to RM18.98 billion compared with the target of RM9 billion previously set for the 2011-2015 period.
BiotechCorp was comfortable with the 50-50 ratio between local and international investments recorded so far, he said.
Earlier, the prime minister witnessed the exchange of documents of six collaborations with an investment value totalling more than RM250 million, among others, with Malaysia Debt Venture Bhd, Verdezyne, Thailand Centre of Excellence for Life Sciences, Gas Malaysia Bhd and Sirim Bhd.
During the opening ceremony, Najib also launched the Bioeconomy Transformation Programme (BTP) Annual Report 2014, highlighting the achievements since its implementation two years ago.
To date, BTP boasts a total of 25 trigger projects that are expected to generate a total gross national income (GNI) of RM4.2 billion by 2020.
In the long run, BTP is targeting to secure a total of RM48 billion in GNI, the creation of 170,000 new job opportunities and an investment of RM50 billion by 2020. – BERNAMA
