Speaking at the opening of the BioMalaysia 2005 conference in Putrajaya International Convention Center, Prime Minister Badawi said the newly-created Malaysian Biotech Corporation (MBC) will work closely with the relevant ministries to enhance biotech R&D and help improve the regulatory environment. It will also oversee the implementation of the new policies and initiatives.
Dr. Ahmad Zaharuddin Idrus, the Science Advisor to the prime minister, has been appointed chairman of MBC, while Malaysian Technology Development Corporation Chief Executive Officer Iskandar Mizal Mahmood has been appointed as the new agency's CEO.
The MBC will also look into creating opportunities for commercial spin-offs; providing funding and industry development services; and advancing R&D and commerce in agriculture biotechnology, healthcare biotechnology and industrial biotechnology.
The National Biotechnology Policy will be implemented in three phases: Phase 1 (2005-2010) will see the establishment of advisory and implementation councils, education and training of knowledge workers, business development and industry creation in agricultural biotech, healthcare biotech, industrial biotech and bio-informatics.
The second phase (2011-2015) involves developing expertise in the discovery and development new drugs based on natural resources, while the final phase (2016-2020) will focus on taking Malaysian companies global.
Malaysia hopes that by 2020, it will be a global player in biotechnology and established at least 20 global Malaysian companies. To achieve its goal, the government plans to establish a network of centers of excellence throughout the country called the BioNexus.
"After much consideration, the government has also decided to employ an approach that moves away from an infrastructure focus, to one that builds on the capabilities of existing institutions," said the prime minister during his keynote address. "The BioNexus… will represent the best institutions that Malaysia has to offer in specific biotechnology sub-sectors."
Three centers of excellence will initially be established as part of the BioNexus. They are the Centre of Excellence for Agro-biotechnology, which covers Mardi (Malaysian Agricultural Research and Development Insitute) and Universiti Putra Malaysia at Serdang; the Centre of Excellence for Genomics & Molecular Biology, which is the Universiti Kebangsaan Malaysia at Bangi; and the Centre of Excellence for Pharmaceuticals & Nutraceuticals, which will be built in the BioValley site, near Dengkil.
To encourage biotechnology investment from the private sector corporations, approved biotechnology companies will be eligible for tax incentives. For example, a holding company owning at least 70 percent of an approved biotechnology company can claim group relief and deduction for the investment in its approved subsidiary biotechnology company against its profits.
Biotech companies will also be eligible for pioneer status--100 percent income tax exemption for a period of up to 10 years--or investment tax allowance where 100 percent of qualifying investment over a period of five years can be set off against profits.
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do anybody knows about india and singapore biotech policy?... cant find it.
mail me: memmmbop84@yahoo.com
Posted by anonymous on Friday, January 06 2006 01:04 AM