Biotech Corp eyes RM1.75 bln worth of investments this year
KUALA LUMPUR: Malaysian Biotechnology Corporation Sdn Bhd ( BiotechCorp) targets to attract RM1.75 billion worth of investments in Malaysia’s biotechnology sector this year.
Its chief executive officer Datuk Dr Mohd Nazlee Kamal said BiotechCorp has already surpassed its investment target for the entire Phase 2 of the National Biotechnology Policy of RM9 billion.
Total investments for the five-year phase, from 2011 to 2015, have hit RM12.72 billion, he said.
“This is a progressive development in the government’s efforts to achieve the aspiration to be a high-income, inclusive and sustainable economy by 2020,” he told reporters at the Bio Chicago 2013 pre- event press conference here yesterday.
Mohd Nazlee said Malaysia’s internat ional investors come from the US, Italy, New Zealand, Britain, France, Germany, Belgium, India, China, Japan, Taiwan, Singapore, Thailand, Australia and Hong Kong.
Biotech Corp is also looking at a projection of 15 companies to be accorded BioNexus status by year- end.
There are now 2 21 BioNex u s companies with a total approved investment of
This is a progressive development in the government’s efforts to achieve the aspiration to be a high-income, inclusive and sustainable economy by 2020. Datuk Dr Mohd Nazlee Kamal, BiotechCorp CEO
RM2.8 billion.
BioNexus status is accorded to biotechnology companies that qualify under the Malaysian Bill of Guarantee, which provides access to commercialisation and tax incentives.
Mohd Nazlee said among BiotechCorp’s continuous efforts was BioMalaysia, a programme that assists and supports scientific efforts, research and development and business mat ch ing betwe en local and international participants. — Bernama