Biotechnology is set to become a new engine of growth for the country. The National Biotechnology Policy launched by Y.A.B Prime Minister on 28th April 2005, is a commitment by the government to develop biotechnology as a platform for an innovation- led economy. The first phase (2005 -2010) of the implementation of the Policy is outlined in the 9th Malaysia Plan . The National Biotechnology Division (BIOTEK) in MOSTI is responsible for steering the national biotechnology agenda through the following programmes:-
Under phase I of the National Biotechnology Policy, the government has established BiotechCorp (Malaysian Biotechnology Corporation) as the one -stop centre for biotechnology industry development in this country. In addition, to encourage the development of biotechnology industry, the government has provided various fiscal and tax incentives to biotechnology companies accorded the BioNexus status. To further spur the growth of R&D in biotechnology , three new National Biotechnology Institutes have been established namely ; Malaysia Agro-Biotechnology Institute (ABI), Institute of Pharmaceutical and Nutraceutical Malaysia (IFNM) and Malaysia Genome Institute (GenoMalaysia) .