Monday July 4, 2011

Three foreign companies keen on investing in Bio-City

WASHINGTON: Three foreign biotechnology-based pharmaceutical companies are interested to invest in the biotechnology hub Bio-City in Alor Gajah, Malacca.

The firms – two from India and one from Britain – indicated their interest at a meeting between their key executives and general manager of Invest Melaka, Ramli Mohd Ali, at the BIO International Convention (BIO Washington) held here recently.

“They have shown interest and we need to hold discussions with them,” said Ramli.

BIO Washington is the world’s largest biotechnology gathering of big names in the industry.

Ramli said Invest Melaka, a one-stop investment agency, had been given the mandate to woo biotechnology investors and was actively promoting the 120ha Bio-City.

“The setting up of the Biotechnology Institute, which has carried out studies in various areas like tissue culture, toxicology and DNA studies, is expected to attract more investors,” he said.

He added that two companies, including Vivo BioTech (M) Sdn Bhd, were in discussions to set up their facilities in Bio-City.

Ramli said Bio-City provided a conducive environment and had paid special attention to the needs of “niche” investors.

“We offer tailor-made services based on the needs of individual investors,” he said. — Bernama

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