340 biotech companies have invested RM6.7b to-date

KUALA LUMPUR: A total of RM6.7 billion worth of investments from 340 biotechnology companies have been recorded to-date, said Science, Technology and Innovation Minister Datuk Seri Wilfred Madius Tangau.
He said the biotech industry has generated a total income of RM2.7billion and created a total of 31,000 job opportunities between 2011-2015.
He said this is in line with the government's long-term strategy to boost local companies involvement in the biotechnology industry.
"From 2016 to September 2017, there were 283 firms with Bionexus status, which created a total of 10,665 jobs, including 3,926 for highly skilled workers," he said.
Tangau was responding to Datuk Seri Irmohizam Ibrahim (BN-Kuala Selangor), who asked the government to state the impact of the biotechnology sector to the country.
He said the government target is to have 20 Bionexus companies which are recognised globally.
Currently, he said there are 11 such companies.
"These BioNexus companies have also become global leaders in strengthening local biotech sector's competitiveness and marketability," he said.
BioNexus status companies also recorded an average annual growth rate of RM382.8 million.