National Bioeconomy Showcase: “Bioeconomy for All”

The National Bioeconomy Showcase, themed “Bioeconomy for All,” is a two-day event designed to engage all segments of society, including students exposed to science, technology, engineering, and mathematics (STEM) activities, graduates aspiring to pursue careers in biotechnology, housewives seeking products to enhance family health, and entrepreneurs looking for business partnerships to expand their enterprises.

Biotechnology and Bio-based Industries to Drive Malaysia’s Economy

During the opening ceremony of the National Bioeconomy Showcase 2024 summit and exhibition at the World Trade Centre Kuala Lumpur, organised by the Ministry of Science, Technology and Innovation (MOSTI) together with Bioeconomy Corporation as the main organiser, ALPS Global Holding Berhad (ALPS), an integrated biotechnology group facilitated by the Malaysian Bioeconomy Development Corporation (Bioeconomy Corporation), was announced as Malaysia's first biotechnology company to achieve unicorn status.

Minister of Science, Technology and Innovation, YB Tuan Chang Lih Kang, emphasised that the collaborations forged at NBiOSHOWCASE 2024, including the exchange of 11 memoranda of understanding with an estimated value of RM1.5 billion among biotechnology industry leaders, are set to bolster Malaysia's biotechnology and bio-based industries.

Chang said, “Through MOSTI's support, more than 520 biotechnology and bio-based companies have been facilitated by Bioeconomy Corporation, including BioNexus status companies, companies under the Bio-based Accelerator (BBA) programme, and those involved in high-impact biotechnology projects in Malaysia.

Cumulatively, these companies have achieved remarkable milestones with approved investments totalling RM14.3 billion and contributing RM37.5 billion to the nation’s Gross Domestic Product (GDP).”

This will enhance global competitiveness and local technological efficiency, reaffirming the nation’s commitment to the National Biotechnology Policy 2.0. These efforts are projected to make significant contributions to Malaysia's GDP.

Madani’s Government Approach to Drive STEM Interest

The inclusive approach by Madani’s government involves all departments and ministries as mentioned in the Madani economy framework. “If we want to make any new discoveries in bioeconomy, it won't be possible with old approaches,”

“We are talking about digitalisation, artificial intelligence (AI), and bioeconomy, and we want to ensure that it reaches as many people as possible,” Prime Minister Datuk Seri Anwar Ibrahim expressed, voicing concern about the declining interest in STEM and the gap between urban and rural schools in these subjects.

“I appeal to professionals in these fields from companies, agencies, and related ministries to go to schools and universities once or twice a month and spend two or three hours giving students exposure and increasing their interest," he said.

Anwar instructed Science, Technology and Innovation Minister Chang Lih Kang to work closely with the Education Ministry to increase programmes that attract youth interest in STEM.

“I will give two weeks to have a list of 100 professionals who will go to 100 schools,” Anwar added.

Anwar also announced an additional allocation of RM2 million to implement the BBA programme this year, hoping the bio-based industries will act as a catalyst for ecosystem growth and further increase the workforce in STEM.