JOHOR BARU: Malaysia aims to export about 350,000kg of bird's nest-based products worth RM2.8bil by 2030, according to the Science, Technology, and Innovation Ministry.
Minister Chang Lih Kang said Malaysia was among the main producers of swiftlet bird's nest products and had great potential to expand globally.
"The bird's nest industry is invaluable. The global market size for the industry is about USD100bil (RM470bil) in 2023.
"The industry is expected to reach USD140.71bil (RM661.3bil) by the end of 2030, with a compound annual growth rate of 15% from 2024 to 2030.
"As such, the ministry views the industry as an important area of focus that could improve and strengthen the use of science, technology, and innovation in the country, particularly in biotechnology," he said.
He noted that the development and growth of the industry could contribute to Malaysia’s economic progress and its goal to be a technologically advanced country by 2030.
Chang made these remarks during the opening ceremony of the new biotechnology facility of Glyken International Berhad (Glyken) in Iskandar Puteri on Thursday (June 27).
"This new facility, completed in the fourth quarter of 2023, is among proactive efforts to achieve this aspiration.
"The integrated facility will also contribute to the growth of the bird’s nest industry, allowing the country to achieve its target of exporting 350,000kg of bird’s nest products worth RM2.8bil by 2030," he said.
More to come.
