KOTA KINABALU, Aug 20 (Bernama) – The Malaysian Bioeconomy Development Corporation (Bioeconomy Corporation) has formed a strategic collaboration with Invest Sabah Bhd through the Bioeconomy Tour 2025.
The partnership is aimed at strengthening Sabah’s bioeconomy ecosystem, thereby opening more economic opportunities and sustainable development for the people of the state.
Bioeconomy Corporation’s chief executive officer (CEO) Mohd Khairul Fidzal Abdul Razak said the collaboration also involves close cooperation with nine related agencies in Sabah as an integrated initiative to support the Ministry of Science, Technology and Innovation’s mission to position Malaysia as a global technology developer by 2030.
He noted that the encouraging participation in the 2024 Sabah Bioeconomy Tour reflects the huge potential of biotechnology and bio-based industries in the state. He is confident that with strategic support from state agencies in this year’s tour series, there will be more positive changes driving growth in the sector.
“We focus on how to assist national biotechnology companies, especially those in Sabah. Earlier, we launched six bio-based products from local companies.
“With this programme, we hope to help more local companies develop products with potential for both local and international markets,” Mohd Khairul told reporters after attending the Bioeconomy Tour 2025 here today.
For this year, the Bioeconomy Corporation aims to hold the Bioeconomy Tour programme at six strategic locations, with over 200 participants nationwide and launch 60 new products or innovations.
For the Sabah edition, he said they will introduce the BioSynergy programme through a strategic partnership with POIC Lahad Datu to drive research, technology transfer, talent development, and support for local enterprises.
Mohd Khairul said the initiative aims to strengthen expertise and enhance the competitiveness of Bio-based Accelerator (BBA) and BioNexus-status companies in Sabah, as both play a vital role in the bioeconomy ecosystem.
“More than 630 companies across Malaysia have recorded approved investments totalling RM8.7 billion up to the second quarter of 2025.
“This underscores that continuous support for these companies will have an even greater and sustainable impact on STI-based economic development in Malaysia,” he said.
Mohd Khairul also said that they are committed to further advancing BBA and BioNexus-status companies in line with set targets to enable the industry to contribute five per cent to gross domestic product growth.
Meanwhile, Invest Sabah CEO Dr Firdaus Suffian said in his speech that they are confident the collaboration with Bioeconomy Corporation will not only strengthen the local bioeconomy ecosystem but also open opportunities for investors, innovative companies, and local communities to participate directly in the development of the bio-based industry.
“As a state development agency responsible for attracting investments and driving economic growth, we see this opportunity as a strategic platform to support the growth of biotechnology and bio-based industries in Sabah and to increase economic opportunities for the people.
“This initiative is also a chance to drive innovation and promote Sabah as a destination for strategic technology investments. Therefore, strengthening cooperation with the Bioeconomy Corporation is a crucial step to ensure programs like the Bioeconomy Tour have maximum impact,” he said.
Firdaus also said that Invest Sabah is anticipating that more BBA and BioNexus-status companies can be developed in Sabah.
“The active involvement of these companies in the Bioeconomy Tour not only opens opportunities for talent development and innovation commercialisation but also contributes significantly to Sabah’s and the nation’s economic growth,” he said.
Firdaus added that Sabah’s potential in bioeconomy is too vast to ignore, given the state’s biodiversity can still be explored and sustainably harnessed to produce various high-value products through bio-based technology.
— BERNAMA
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