Johor’s biotech sector attracting attention from abroad

JOHOR BARU: Johor is fast becoming A favourite destination for foreign investors in biotechnology activities as the state has recorded RM3bil in investments in the past eight years.

State Domestic Trade, Consumerism and Tourism exco Datuk Tee Siew Kiong said that from the total 40 investment projects accumulated over the years, 65% were foreign direct investments, valued at RM1.915bil.

He said that the five main investing countries were India, Thailand, the United States of America, Taiwan and Switzerland.

“Johor’s biotechnology sector has a lot of potential to grow and attract even more investors to collaborate in future,” he said after attending a Hari Raya shopping programme here.

He added that Johor could be the leading investment destination in the country to compete with the likes of other countries in the region such as India, Japan, South Korea, Taiwan and Singapore.

Tee said that the state government recognised that with the right research and development and commercialisation, companies in Johor had the potential to penetrate the market in Taiwan and China for collaboration opportunities.

Tee added he would be heading a team to represent Johor at the Malaysia-Taiwan Bioeconomy: The Johor Partnership Seminar set to take place in Residence One, Grand Hyatt Hotel, Taipei in Taiwan from July 21-25.

“The objective of this event is to raise the state’s profile and place Johor as a state that has high potential as an investment hub for the biotechnology business and activities,” he said.

He also said that the event was an opportunity for the state-owned J-Biotech Holdings Sdn Bhd and other state agencies to build relations with the investors, stakeholders and agencies in Taiwan.