Business
Times, April 4, 2008
Malaysia on track to become biotech hub
By Zaidi Isham Ismail
All incentives are in place and Malaysia
will go all out to produce 70 BioNexus-status
companies by year-end, says Science, Technology and
Innovation Minister
 MALAYSIA'S
aspiration to become a biotechnology hub by 2020
with a combined approved investment worth RM20
billion is on track.
Science, Technology and Innovation Minister Datuk Dr
Maximus Ongkili said Malaysia to date has already
rolled out 51 BioNexus-status companies with a
combined approved investment value of RM1 billlion.
"All incentives are in place and we will go all out
to produce 70 BioNexus-status companies by
year-end," Ongkili said in Kuala Lumpur yesterday
after making a working visit to the Malaysian
Biotechnology Corp Sdn Bhd's headquarters.
Ongkili has replaced Datuk Dr Jamaludin Jarjis under
the new cabinet line-up.
Ongkili said the time for capacity building in the
biotechnology sector will end by 2010, followed by
efforts to commercialise the products (between 2011
and 2015), hoping to generate a revenue of RM80
billion and contribute four per cent to Malaysia's
gross domestic product.
Malaysia wants to have a slice of the world's
biotechnology pie worth US$153.7 billlion (RM490.30
billion) in 2006, and is wooing biotechnology
companies to set up base in the country and offering
them various incentives under the BioNexus status.
Meanwhile, at a separate event, Malaysian
Biotechnology Corp chief executive officer Datuk
Iskandar Mizal Mahmood said the sector has adequate
biotechnologists at the moment and aims to churn a
total of 80,0000 knowledge workers by 2015.
"There will not be enough biotechnology workers
unless we take steps right now, such as give
training to fresh graduates and introduce
entrepreneur program-mes," said Iskandar. |
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