Press Release


Bioeconomy Corporation joins forces with BIMP EAGA Bioeconomy to boost Bio-Based industry in Sabah

Kuala Lumpur, 30 November 2016 – Bioeconomy Corporation is collaborating with BIMP EAGA Bioeconomy Development Holdings Sdn Bhd (BIMP EAGA Bioeconomy) to spur the development of the bio-based industry in Sabah through the Bioeconomy Community Development Programme (BCDP). The initiative marks the first state-driven company to collaborate with Bioeconomy Corporation in developing the bioeconomy in Sabah, especially through cultivating the state’s honey industry under BCDP. BIMP EAGA Bioeconomy acts as the coordinator for all relevant bio-based projects in the state, linking and facilitating work between key state entities, communities and Bioeconomy Corporation.

Sabah Deputy Chief Minister cum Minister of Agriculture & Food Industry, Datuk Seri Panglima Haji Yahya Haji Hussin said that the partnership demonstrates strong support from Sabah in moving the bioeconomy agenda forward and will ensure implementation of more BCDP projects in the state. “The collaboration between Bioeconomy Corporation and BIMP EAGA Bioeconomy is the first of its kind, and demonstrated the support coming from the Sabah State Government, which is critical to ensure successful implementation and sustainability of BCDP projects. In this regard, the Ministry of Agriculture and Food Industry in Sabah will provide the necessary assistance to BIMP EAGA Bioeconomy in order to develop the “Borneo Honey Bee Farm Project”, targeting at least 5,000 bee farmers by 2021. Further to that, the state will also assist towards positioning the Sabah’s Honey Industry to go global,” he said, before officiating the ceremony here today.

Bioeconomy Corporation Acting Chief Executive Officer, Tuan Syed Agil Syed Hashim said that further efforts are needed to ensure that the bio-based sector continues to assume a larger role in developing Sabah economy. “The implementation of the Bioeconomy Transformation Programme (BTP), and the BCDP enables the transition from a commodity-based economy to one that is value-added. Today we witnessed the beginning of Sabah BCDP bee farming projects to be implemented in few locations, which will further add momentum to future bioeconomy initiatives and contribute towards realising the long term BTP targets of achieving MYR 48 billion in Gross National Income (GNI), creation of 170,000 new jobs and attracting investment of MYR 50 billion by the year 2020,” he said during his speech.

Further to the collaboration between Bioeconomy Corporation and BIMP EAGA Bioeconomy, a feasibility study for the ‘Borneo Honey Bee Farm Project’ will be conducted, while the ‘Sabah Bio-Industries Roadmap’ will be developed to promote the growth and sustainability of the bio-based sector. Both the Sabah BCDP Programme and “Borneo Honey Bee Farm Project” are targeted to be implemented state-wide by December 2016.

Besides the collaboration with Bioeconomy Corporation, the event also witnessed the signing of Memorandum of Understanding (MOU) on Business Strategic Cooperation between BIMP EAGA Bioeconomy and Flora Bee Hive Enterprise (FBH) for a proposed bee farming project under BCDP, as well as the announcement of Sales and Purchase Agreement between BIMP EAGA Bioeconomy and Xali Ptd Lte (Singapore) to secure the sales and supply of 3,000 metric tonnes of honey to ensure the sustainability of the bee farming project.

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