International Advisory Panel Seeks Excellence in Basic Research in Malaysia
December 4, 2009| |
The International Advisory Panel (IAP) noted Malaysia's achievements in the biotechnology industry since the inception of the National Biotechnology Policy. The number of Bionexus status companies currently stands at 135 and is expected to be 185 in two years. These companies are currently contributing 2.2 per cent to the country's gross domestic product (GDP) and by 2011 it will increase to 2.5 per cent. The total approved investment for the 135 companies is more than RM1.51 billion (USD 0.4 bill). These companies employ 2,260 knowledge workers and generate more than RM700 million (USD200 mill).
However, the IAP is keen to see basic research in Malaysia reaching greater heights. Most IAP members strongly recommended to bring the country's science foundation to higher level so that it will not be a limiting factor for the biotechnology industry to excel.
For more news about biotechnology in Malaysia email Mahaletchumy Arujanan at maha@bic.org.my
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