By Syed Jaymal Zahiid
KUALA LUMPUR, Nov 16 — The government announced today that it will set up a biotech centre equipped with cutting-edge technology as part of its initiative to lure back foreign-based Malaysian talent and spur the industry’s growth.
Prime Minister Datuk Seri Najib Razak said today returning talent will be placed in strategic sectors like research and development, and will act as the catalyst to the government’s aim to make biotechnology one of the country’s major income generators.
“We will also focus on developing a conducive environment for them with state-of-the-art facilities in order to bring them back here,” said Najib at a press conference here after chairing a meeting between Malaysia’s Biotech Corporation, and the Biotechnology International Advisory Panel (IAP).
Nine global players, including the UK and the US, were represented under the IAP. Members include experts representing institutions and multinational companies from around the world.
The meeting was held to create a platform for the government to get feedback on the latest global trends within the industry and step up ways to commercialise the country’s biotech industry.
Najib said the meeting had been a positive and fruitful one with regards to drafting initiatives to expand the industry, which currently contributes 2.2 per cent to the country’s GDP.
The government expects to double it to 5 per cent by next year.
So far, 135 biotech companies are currently operating within the country, with more than RM1.51 billion in investments since the inception of the National Biotechnology Policy in 2005.
Najib said the companies have generated some RM700 million worth of profit in total.
The country also aims to become a hub for research in medicine, given the multi-ethnicity character of Malaysia.
“This is because Malaysia can become a microcosm of the global market,” said the prime minister.
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