Biotech thrust : Nine-point policy includes tax breaks
BY MERGAWATI ZULFAKARPUTRAJAYA: Malaysia has unveiled a national policy to give impetus to its biotechnology sector, providing tax breaks to attract private investments and setting up the Malaysian Biotechnology Corporation.
The National Biotechnology Policy announced by Prime Minister Datuk Seri Abdullah Ahmad Badawi yesterday encompasses three phases – capacity building (2005-2010), creating business out of science (2011-2015) and turning Malaysia into a global player (2016-2020).
The policy spells out nine thrusts, which include transforming and enhancing the value creation of the agricultural sector through biotechnology.
It also aims to capitalise on the strengths of biodiversity for commercial discoveries in health-related natural products.
The policy will encourage growth opportunities in the application of advanced bio-processing and bio-manufacturing technologies, and build human capital in biotechnology via education and training.
The other thrusts of the policy are to:
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INS Bioscience Bhd CEO Datuk David Yeat (right) showing Abdullah the wheatgrass cultivating technique developed by his company for health supplement products at the BioMalaysia 2005 exhibition in Putrajaya yesterday. At left is Minister of Science, Technology and Innovation Datuk Dr Jamaluddin Jarjis. On Yeat’s right is INS chairman Datuk Abdul Majid Khan. --STARpic by RAJA FAISAL HISHAN. |
“Malaysia has been blessed with a wealth of resources that lend themselves to the development of biotechnology.
“I hope you will share in my determination to make Malaysia a key player on the world’s biotech and life sciences stage.
“We must make it our vision and shared objective to be a key contributor to the world’s store of knowledge,” Abdullah said when launching the BioMalaysia 2005 conference and showcase at the Putrajaya International Convention Centre yesterday.
He said the Government would develop a network of centres of excellence, to be known as Bionexus Malaysia.
The three-day conference is organised by the Ministry of Science, Technology and Innovation.
Related stories:
Ahmad Zaharuddin to head biotechnology corp
Malaysia’s biotech potential
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