Saturday April 27, 2013

BiotechCorp raises Phase 2 investment target to RM20bil

CHICAGO: Malaysian Biotechnology Corporation Sdn Bhd (BiotechCorp) has increased its target investment for Phase 2 of the National Biotechnology Policy to RM20bil from RM9bil previously.

Chief executive officer Datuk Dr Mohd Nazlee Kamal said BiotechCorp had already attracted investments worth RM12.72bil, surpassing the target for the entire five-year phase from 2011 to 2015.

Speaking to reporters here yesterday, Mohd Nazlee said the agency was aiming to attract RM1.75bil worth of investments in Malaysia's biotechnology sector this year. “We are still committed to bringing in more investment by the ministry. We think we can do more than that, but attracting investment is hard work and some portion we don't have control over, depending on market conditions, but it would be marvellous if we could achieve the target,” he said.

Mohd Nazlee said this was where events such as “BIO Chicago 2013” could be a very effective platform for Malaysia to profile the value proposition of the country's bioeconomy and attract more investment.

“For the past three days, we have been involved in extensive business meetings and partnering engagements. We see strong interest from global companies to form collaborations and partnerships with BiotechCorp and Malaysian companies,” he said. - Bernama

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