KUALA LUMPUR: A total of RM7mil will be allocated to stimulate the development of the biotechnology industry which includes an allocation for international conferences, says the Prime Minister.
Datuk Seri Ismail Sabri Yaakob said the allocation included RM5mil for the Bio-based Accelerator (BBA) programme under Bioeconomy Corporation. The decision was made following a recent consultation between the Science, Technology and Innovation Ministry (Mosti) and Finance Ministry.
"It’s a significant move as Mosti is equipped with the conducive ecosystem that could support the development of the local biotechnology industry," he said during the launching event of National Biotechnology Policy 2.0 at World Trade Centre here today (Sept 12).
Ismail Sabri also announced that a budget of RM2mil to organise an international biotechnology conference, BioMalaysia, would be allocated to the ministry as well.
"Following the request by minister Datuk Seri Dr Adham Baba earlier, I’d like to announce that I approve the RM2mil budget for the purpose of organising the conference next year.
"I hope it would also attract more participation from local and international industry players," he added.
BioMalaysia was last held in Kuala Lumpur Convention Centre in 2018 which acts as a platform to connect scientific and business communities in the biotechnology industry.
DBN2.0 is a continuation of the previous version that was launched in 2005 by then prime minister Tun Abdullah Ahmad Badawi.
"The latest policy will focus on three main cores which are Agricultural Biotechnology and Food Guarantees; Biotechnology in Healthcare and Wellness; as well as Biotechnology in Industrialisation and Circular Economy," he said.
