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Malaysia is strategically positioned to make the country a much-sought-after
hub of Bioeconomy. In 2020, it completed the final phase of the National
Biotechnology Policy (NBP), and is betting on its bioeconomy sector to drive a
robust economic recovery through programmes and initiatives of Bioeconomy
Corporation. As a regional leader in this sector, being the second country in Asia
and the first country in South East Asia to announce a national bioeconomy
initiative, Malaysia has already set the ball rolling. Moreover, in line with the
National Recovery Plan, it has also framed a Bioeconomy blueprint to address
pandemic challenges and to boost various sectors that are crucial to the
economy. The country is poised to globalise bioentrepreneurship by bestowing
fiscal incentives and grants through special BioNexus Status, effectively making
it a major global player to reckon with, in the bioeconomy space.
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