Rebranding of BiotechCorp to Malaysian Bioeconomy Development Corporation fortifies nation’s leadership in bioeconomy
Kuala Lumpur, 2 June 2016– Malaysia’s premier biotechnology event BioMalaysia & Asia Pacific Bioeconomy 2016 concludes its 3-day exhibition at Kuala Lumpur Convention Center today with the unveiling of a fresh identity for Malaysian Biotechnology Corporation (BiotechCorp) – Malaysian Bioeconomy Development Corporation (Bioeconomy Corporation). Along with the name change, the corporation transformed their corporate identity with a new logo and expanded its roles as well as functions, reflecting the organisation’s position as the leading economic development agency to spearhead the bio-based industry in Malaysia.
The aim of the rebranding initiative is to enable the reformed agency to fully take on its responsibilities of uplifting and upholding the strategies and programmes of Malaysia’s bioeconomy agenda. Since the launch of Bioeconomy Transformation Programme in 2012 by the Honorable Prime Minister of Malaysia, the formerly known BiotechCorp has aggressively focused on promoting a knowledge-based bioeconomy through the establishment of a sustainable ecosystem of R&D and commercialisation in the areas of agriculture, healthcare and industrial bio-based industries.
The Minister of Science, Technology, and Innovation (MOSTI), Datuk Seri Panglima Madius Tangau launched the corporate rebranding, saying, “From Phase 1 (2006 – 2010) to Phase 2 (2010 – 2015) of the National Biotechnology Policy (NBP), we have achieved over RM25 billion of approved investments, created more than 31,000 direct jobs and generated more than RM18 billion of revenues. In accelerating our efforts to achieve targets outlined in ‘Global Business’, the final phase of the NBP, and to attain a developed nation status by 2020, we need to continuously evolve and adapt to the increasingly high level and pace of the global economic landscape.”
Adding on, the Minister said, “The rebranding of BiotechCorp is seen as a strategic movement to clarify and strengthen the company’s role in developing a competitive and diverse end-to-end value chain of the Bioeconomy Ecosystem. This drives a strong socio-economic impact to the country by enhancing the wealth, health and social well-being of the nation through sustainable bio-based approaches.”
Chairman of Bioeconomy Corporation, Tan Sri Zakri Abdul Hamid said, “In pursuit of globalisation, this transitional phase for Malaysian Bioeconomy Development Corporation is indeed an opportune, in the name of progress. While we strengthen the strategies that uphold Bioeconomy Malaysia, we must realign our vision to enable us to become the global pioneering bioeconomy agency.” He added that the corporate transformation provides clarification to the organisation’s roles and responsibilities in supporting the nation’s sustainable bioeconomy development as well as to avoid any overlapping responsibilities with other agencies.
Chief Executive Officer of Bioeconomy Corporation, Dato’ Dr Mohd Nazlee Kamal said, “As we move into this new era of bioeconomy, this change of corporate identity is timely, especially in relation to our expansion of scopes to cover the entire bio-based industry as to be able to effectively implement the bioeconomy agenda for Malaysia. The Bioeconomy Corporation will also act as the main commercialisation agency for Malaysia’s bio-based industry, by focusing on boosting more commercialisation and investments in bio-based innovations that will assist in bringing higher added value to the community and the region.”
Dato’ Nazlee added that citizens will clearly witness the benefits and impact of bioeconomy to the country through the renewed roles of Bioeconomy Corporation, which include improving income of Malaysia’s urban and rural communities, developing bio-entrepreneurs, creating bio-based clusters throughout the nation, and facilitating a funding ecosystem for the bio-based industry.
BioMalaysia & Asia Pacific Bioeconomy 2016 saw the participation of 100 companies, involving more than 160 exhibition booths, with foreign exhibitors from Singapore, India, United Kingdom, USA, Germany, South Korea, Turkey, Dubai and Australia. More than RM24 million of revenues were generated during the business matching sessions, involving 10 companies.
Bioeconomy Corporation wishes to announce that the organisation is not affiliated in organising or promoting any other biotech-related events happening during the stipulated date organised by any private entity.