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2013 Bio Convention Provides Springboard For Malaysian Biotech
Date:4/23/2013

in Southeast Asia for IP Protection and 4th globally for Biotechnology Enterprise Support.

In order to create a more structured economic development framework for the biotechnology sector, Malaysia designed the Bioeconomy Transformation Programme (BTP), which is a targeted platform for the private sector to channel and maximise commercial opportunities in bio-based industries. The BTP is expected to generate investments amounting to RM10 billion, creating 16,300 new jobs with a GNI of RM3.6 billion by the year 2020.

More importantly, companies participating in Malaysia's biotechnology sector are privy to the BioNexus programme. This allows qualified companies access to a suite of specialized incentives including 100% tax exemption for the first 10 years of profit and a bill of guarantee covering amongst others; freedom of ownership, freedom to source funds from abroad and freedom to import knowledge workers. To date there have been 220 BioNexus companies registered with a total approved investments of close to RM3 billion. More than 50% of these companies are in the small and medium sized industries sector and are now ready to expand in the new economy, whilst the top 3% are now listed on exchanges in Malaysia, Australia, UK and Europe.

As at 2012, Malaysia has attracted RM10.6 billion in investments in biotechnology, with a track record of hosting many top global companies such as Biocon, Gevo, Ranbaxy, Strides Arcolab, Dr. Reddy's Laboratories and Novartis amongst others.

Ranked number 10 in the AT Kearney FDI Confidence Index 2012, more than 5,000 foreign companies from over 40 countries have established operations in Malaysia. To help springboard further interest, Malaysia continues to intro
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SOURCE BiotechCorp
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