Biotechnology

BioNexus status is awarded to qualified biotechnology firms engaged in value-added activities within biotech and life sciences. This status grants companies fiscal incentives, funds, and support for growth. Companies with BioNexus status benefit from guarantees outlined in the BioNexus Status Bill, including ownership freedom, access to shared labs, research centres, and continuous assistance from the Malaysian Bioeconomy Development Corporation (MBDC) under the Ministry of Science, Technology, and Innovation (MOSTI).

The recently launched National Biotechnology Policy 2.0 (NBP 2.0) facilitates industry advancement through cutting-edge technology adoption. NBP 2.0 aids industries in ascending the value chain to compete globally in agriculture, food security, healthcare, well-being, and the circular economy.

To drive industry growth, the government encourages involvement from stakeholders such as MBDC to enhance the BioNexus Bill of Guarantees, National Institutes of Biotechnology Malaysia (NIBM) to fortify R&D facilities, local venture capital companies and government-linked entities to support the industry’s expansion, and commercial banks to provide financing.

An additional RM5 million funding Is designated for the Bio-based Accelerator (BBA) programme to boost local biotech companies. The government seeks to attract more local and foreign industry players to partake in this flourishing high-value, high-tech sector.