Bioeconomy Corporation is the lead development agency for the bio-based industry in Malaysia, under the purview of Ministry of Agriculture and Food Industries (MAFI).
Bioeconomy Corporation is:
- Owned by the Minister of Finance Incorporated & Federal Lands Commissioner
- Governed by the Biotechnology Implementation Council
- Advised by the Bioeconomy International Advisory Panel, chaired by the Honorable Prime Minister of Malaysia.
Bioeconomy Corporation is responsible for executing the objectives of the National Biotechnology Policy (NBP) and acts to identify value propositions in both R&D and commerce and to support these ventures via financial assistance and developmental services.
Bioeconomy Corporation’s key mandates are as follows:
- Act as the central point in providing support, facilitation and advisory
- Nurture and accelerate growth of Malaysian bio-based companies
- Actively promote foreign direct investments in bio-based industry
- Create conducive environment for bio-based industry
- Improve the position of bio-based industry by implementing the going global strategy
- Promote bio-based companies up the value chain via targeted collaborative programmes
- Promote use of bio-based technology to improve income of the bottom 40% (B40) of population, urban and rural community. B40 refers to the group of households that make up the bottom 40% of the income distribution, where the monthly household income does not exceed RM3,855
- Development of bio-entrepreneurs
- Creation of bio-based clusters throughout the nation
- Human capital development for bio-based industry
- Facilitate funding ecosystem for bio-based industry
- Act as the commercial arm for bio-based industry and enhance role of promoting local bio-based products
- Champion the nation’s sustainable bioeconomy development
Bioeconomy Quality Policy
The Quality Policy of Bioeconomy Corporation encapsulates the essential elements of quality to provide the highest degree of accountability, integrity, excellence, and teamwork in all of our commitments.
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