Malaysia will roll out a bio-technology roadmap by early next year to complement the National Biotechnology Policy, Prime Minister Najib Abdul Razak says.

The roadmap will help the nation achieve high growth in the coming years to help spur Malaysia's target of becoming a developed nation.

“This initiative is between the Science, Technology and Innovation Ministry and Biotech Corp and its other agencies to roll out a bio-economy roadmap for Malaysia by early next year," Najib said.

NONE “We will be looking at some key focus areas in the industrial, health and agriculture sectors to leverage on the latest approaches in bio-mining, bio-conversions, bio-extractions and key knowledge technologies such as genomics, proteomics and metabolomics."

With this, Najib said, Malaysia would move swiftly to realise its full potential in bio-technology and maximise the benefits of a vibrant bio-economy.

Malaysia, he added, could not remain complacent in its path to attaining developed nation status.

“We must change our mindset and the environment of business-as-usual. We must make the quantum leap towards the transformation we desire.

“The choice is clear. Change is not an option but an imperative. We must change or risk being left behind,” Najib said, adding that the government was placing strong elements in science, technology and innovation as key elements in the transformation strategy.

Najib said this at the launching of BioMalaysia 2011 and the 2011 Pacific Rim Summit on Industrial and Bio-energy.

Malaysia is in the second phase of the New Biotechnology Policy from 2011 to 2015, which would see a significant rise in value creation from the earlier stage.

Emerging bio-mass opportunities

Najib also said there would be more opportunities for bio-based chemicals.

A recent report, he said, forecasts market value of bio-mass generated electricity at US$53 billion by 2020, with biomass capital investments reaching US$37 billion by 2015.

“Malaysia certainly has the potential and capacity to contribute to and compete in this space,” he said.

“As a manufacturer of plastics products, producing 60 percent of the resins for the industry, Malaysia has the real opportunity to expand and move up the value chain and compete in the bioplastics sector.”

He said biomass or the process of creating value from it has the potential to create new industries for Malaysia.

Najib also announced the launch of a new National Biomass Strategy to create new high-value industries driven by local innovation.

This initiative, he said, would see collaboration with various government agencies, universities and business leaders and it would improve Malaysia’s competitiveness as a bioeconomy and biotechnology hub.

“This initiative will help deliver new growth in rural areas, encourage development of new home grown technologies and create more export opportunities.”

“The biomass strategy will create 70,000 new jobs where 40,000 of those will be high-skilled.”

“Biomass has the potential to deliver up to RM30 billion in new income for Malaysia and all Malaysians by 2020,” he said.

Also present were Deputy Science, Technology and Innovation Minister Fadilah Yusof and chief executive officer of Malaysian Biotechnology Corporation Dr Mohd Nazlee Kamal.