M’sian biotech projects to contribute over $29M in gross national income by 2020

Several proposed Bioeconomy Trigger Projects (BTP) in Johor are expected to contribute more than $29 million in terms of gross national income (GNI) by 2020.

Ministry of Science, Technology and Innovation Deputy Secretary-General Datuk Dr Mohd Azhar Yahaya said that Johor could serve as the springboard for Malaysia's aspiration to become a global biotechnology hub and enhance the economic growth of the state.

"The swift development of the biotech industry in Johor has encouraged the establishment of biotech parks like Bio-XCell and the Bio-Desaru Organic Food Valley to facilitate the creation of an environment that is conducive for the industry to flourish in AgBiotech, BioIndustrial and BioMedical," he said.

The 2-day workshop was organized by Malaysian Biotechnology Corporation (BiotechCorp) in collaboration with Johor Biotechnology (J-Biotech) and Biodiversity Corporation aimed at identifying potential commercial opportunities in bio-based industries in Johor that could be included under the BTP.

A detailed action plan and economic impact for each trigger projects will be validated further during the lab sessions in March.

J-Biotech, the lead agency in the development of Johor's biotechnology, is intensifying efforts to create a conducive ecosystem in the state that will attract investors with proven technologies and high-value activities to develop a robust bio-based industry in the state.

The government targets the BTP to contribute $12 billion to Malaysia's GNI by 2020, draw investments worth $4 billion into the country while creating 160,000 new high quality job opportunities for Malaysians.