Malaysia
Reserve, May 30, 2008
Biotech to contribute
5% to GDP
TO HELP meet the target of 5% contribution from the
biotechnology industry to the gross domestic product
(GDP) by 2020, Malaysian Biotechnology Corp (BiotechCorp)
has embarked on its Biotechnology Entrepreneurship
Special Training (BeST) Programme.
CEO Datuk Iskandar Mizal Mahmood said the industry
was already contributing RM1.3 billion to the GDP
from the investment standpoint, which was less than
1%.
But moving forward the industry will grow further
and by 2020, we will be on track to achieve the 5%
as and when the BeST programme develops more human
capital,” he told reporters at the graduation day
ceremony for the 2007/2008 intake of the BeST
programme in Kuala Lumpur yesterday.
Iskandar Mizal said the 2008/2009 intake, scheduled
to be undertaken by July, was targeting about 200
participants with the next 2009/2010 intake expected
see a 50% increase.
The BeST programme saw 154 of the 206 graduates
obtained placements with BioNexus companies,
multinational companies, local companies and
research institutes while the remaining 52 managed
to secure employment.
The graduates benefited from an intensive and
structured talent development programme combining
classroom training, laboratory work and industry
internship through the BeST programme, according to
BiotechCorp.
Describing biotechnology as a high potential
industry Iskandar Mizal said the human capital
challenge in the industry remained unchanged and was
in fact, becoming even more critical.
He said the industry was not new to Malaysia as
biotechnology had been undertaken by Malaysia Palm
Oil Board and Malaysian Agricultural Research and
Development Institute for agriculture research
providing the platform to expand the industry.
According to Iskandar Mizal, the industry is now
booming with record numbers and all time highs in
revenue, venture financing and value of deals, and
US biotechnology, market crossed the US$80 billion
(RM260 billion) revenue threshold last year for the
first time in history.
“Also in the Asia Pacific industry revenue grew by
21%, mainly from strong performances out of India,
China and Australia.” he said.
Hence, he added, BiotechCorp will continue to
strengthen its contribution in developing human
capital in biotechnology. – Bernama |
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