Bernama.com (Malaysian National News Agency), September 07, 2006 20:41 PM

Immense Potential In Biotechnology, Says Abdullah

NILAI, Sept 7 (Bernama) -- Prime Minister Datuk Seri Abdullah Ahmad Badawi said the biotechnology industry could become a force for the country's economic growth if more effective efforts are taken to develop the field.

Todate, a total of RM543 million has been invested in biotechnology companies while 25 projects have been approved.

The projects are in the areas of biopharmaceutical (nine), agrobiotechnology (seven), medical biotech (six) and industrial biotech (three).

"If greater efforts are made with these projects, there would be success, and God willing the industry would become a catalyst in the growth of our economy," Abdullah said.

It would also provide many more job opportunities and give rise to local scientists in the field.

"This is what we hope for, the future success," Abdullah told reporters after the official launch of the Inno Biologics Biopharmaceutical facility here Thursday.

The Prime Minister who earlier chaired the Biotech Implementation Council meeting, said that today's inaugural meet discussed the initiatives that have already been implemented to push up the biotechnology industry.

One of the proposals made and agreed upon was on the provision of a Bionexus status to companies that meet certain criteria of the biotechnology sector, similar to the way the MSC status is accorded. These companies would enjoy several privileges with the status.

-- BERNAMA