KUCHING, 7 November 2025 — Following the successful exchange of a Memorandum of Understanding (MoU) during the Opening Ceremony of the International Digital Economy Conference Sarawak (IDECS25), BioVerde Technologies Sdn Bhd (BVT) and the Malaysian Bioeconomy Development Corporation (Bioeconomy Corporation) are now advancing into the implementation phase of their partnership to drive innovation, investment, and sustainability in Malaysia’s bioeconomy.
The MoU, witnessed by the Premier of Sarawak, The Right Honourable Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg, was represented by YBhg Dato Sri Dr Wan Lizozman bin Wan Omar (Chairman) and Ts. Hazwan Razak (CEO) for BVT, and YBhg Dato’ Dr Lee Boon Chye (Chairman) and En. Mohd Khairul Fidzal Abdul Razak (CEO) for Bioeconomy Corporation.
Both organisations have begun identifying actionable initiatives under six core pillars: accelerating commercialisation, generating sustainable value, fostering innovation and research, expanding ecosystem and talent development, sharing market intelligence, and advancing Sarawak and Malaysia’s sustainable bioeconomy. As an early focus, Bioeconomy Corporation is working closely with BVT and other state partners on early efforts to shape a Sarawak Bioeconomy Roadmap — a state-level initiative now in its planning phase. Acting on a directive from its Board, BVT is supporting this inter-agency effort to align Sarawak’s biodiversity-based innovation and commercialisation with Malaysia’s National Biotechnology Policy 2.0 (NBP 2.0) through inclusive consultation with government, research, and industry stakeholders.
Building on the strong momentum of IDECS25 and the National Bioeconomy Showcase 2025 (NBiOSHOWCASE) — which saw over RM300 million in potential bio-based investments — the collaboration will focus on developing joint programmes, industry engagement platforms, and investment facilitation mechanisms to connect Sarawak’s biodiversity research with commercial markets across Malaysia.
“This partnership now moves into action — from strategy to execution,” said Ts. Hazwan Razak, CEO of BioVerde Technologies. “We are bridging science and enterprise, ensuring Sarawak’s biodiversity-led innovation contributes meaningfully to Malaysia’s broader bioeconomy ambitions.”
En. Mohd Khairul Fidzal Abdul Razak, CEO of Bioeconomy Corporation, added, “By aligning Sarawak’s unique biodiversity resources with national bio-based growth initiatives, this collaboration will strengthen Malaysia’s competitiveness in sustainable innovation and attract investment into high-value bio-industries.” He added that the collaboration is expected to create new opportunities for the bio-based stakeholders in Sarawak, including industry players, researchers, entrepreneurs, talents, and rural communities.
As the commercial arm of the Sarawak Biodiversity Council, BioVerde Technologies works alongside the Sarawak Biodiversity Centre to commercialise biodiversity research findings as sustainable bio-based ventures. The partnership with Bioeconomy Corporation supports shared national objectives under the National Biotechnology Policy 2.0 (NBP 2.0) and Sarawak’s Post-COVID Development Strategy 2030 (PCDS 2030).