Bioeconomy Transformation Programme (BTP) was launched by YAB Prime Minister, Datuk Seri Najib Tun Razak on 30th October 2012 to further develop the bio-based industry in Malaysia. It is in line with the objective of the government to develop Malaysia into a high-income nation by the year 2020.
The BTP aims to achieve this by focusing on the specific bio-based industries in Malaysia, a sector that had been identified as a potential key strength of the nation due to the natural resources available.
During the launch of the BTP, 10 Entry Point Projects (EPPs) were identified to develop the national bio-based industry. Within these 10 EPPs, 20 private sector-driven Trigger Projects constitute the initial tranche of the launched ventures.
TARGETS OF THE BTP
BTP is targeted to contribute RM48 billion of the Gross National Income (GNI) in 2020, promote 170,000 of job opportunities and attract RM50 billion in investments by 2020.
Since the launch of the BTP in October 2012, Bioeconomy Corporation have (formerly known as BiotechCorp) continued to identify high-impact bioeconomy projects within the bio-based industry that would contribute to these targets.
As of October 2015, a total of 48 Trigger Projects had been identified for inclusion into the BTP.