#What is Bioeconomy?

  • Bioeconomy refers to all economic activity that is derived from the continued commercial application of biotechnology.

#Why is Bioeconomy important?

  • By utilizing biotechnology to tap into the values contained within biological materials, bioeconomy is capable of creating new sources of income, environmental sustainability and social well-being for the nation.
  • Realizing its potential, the Honourable Prime Minister of Malaysia has launched the Bioeconomy Initiative Malaysia (BIM) in November 2011 to coordinate and intensify national efforts to exploit the potential economic benefits of Bioeconomy.

#What is Bioeconomy Initiative Malaysia (BIM)?

  • Spearheaded by MOSTI and BiotechCorp, the BIM programme seeks to foster the participation of the private sector in developing the nation's bioeconomy. As such, a BIM Workshop and Lab Session have been conducted in March 2012 and April 2012 respectively to identify and prioritize Entry Point Projects (EPP). The shortlisted EPPs have been submitted to PEMANDU for approval.
  • BIM is anticipated to be launched in Q3 or Q4 2012 as one of the Economic Transformation Programme.

#Who can benefit from BIM?

  • The BIM is focused on industries and economic sectors that produce, manage and utilise biological resources, including agriculture, forestry, fisheries, food, wellness, chemicals and renewable energy.

#What is the expected outcome of BIM?

  • The goal of BIM is for Bioeconomy to become a key contributor to the country's economy, welfare, productivity, health and environment and for the rakyat to reap its long-term benefits.

#How can I learn more about BIM?

Please direct your queries to zurina.chedir@biotechcorp.com.my or syedarnez.syedkhalil@biotechcorp.com.my

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