SAN DIEGO: Malaysia is poised to receive investments in biotechnology projects worth RM1 billion over the period 2008-2011 as a result of deals that will be signed during a world-class event this week."These (amounts) are the kinds of benchmarks that we have for events like BIO 2008," Malaysian Biotechnology Corp (BiotechCorp) chief executive Datuk Iskandar Mizal Mahmood told Malaysian journalists here on Tuesday.Six agreements will be signed this week on the sidelines of the world's biggest biotechnology conference, dubbed BIO 2008.Iskandar said that more details will be revealed during the signings, adding that they involve areas like healthcare, agriculture and industrial biotechnology.
Malaysia wants to win a slice of the booming and lucrative biotechnology industry, estimated to be worth billions of dollars. Revenue from biotechnology firms in Asia-Pacific alone was US$36.7 billion (RM119 billion) in 2006.Iskandar is leading BiotechCorp, the agency tasked to develop Malaysia's biotechnology industry, at its fourth BIO event. There are about 82 Malaysian delegates this year, led by Science, Technology and Innovation Minister Datuk Dr Maximus J. Ongkili."We are looking for anything that's new, whether in terms of technology or practice," Ongkili told reporters after opening BiotechCorp's exhibition booth.However, Malaysia's core focus are alternative energy and boosting agriculture production.One example is mapping the complete genetic information of the jatropha plant, Ongkili said. This could lead to a better-yielding and more pest-resistant jatropha, which is used to make biofuel, apart from palm oil and corn.The minister is also conducting about 12 one-on-one meetings throughout the four-day event that ends tomorrow."We are zeroing in on the list of potential investors," he said.BIO 2008, which is bringing together more than 20,000 visitors from 70 countries, features about 2,200 leading biotechnology companies worldwide. -www.btimes.com.my
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