Bio-innovation Society: Bioeconomy Corp To Boost Efforts In Biotech Awareness, AI Integration

By Nabilah Saleh

KUALA LUMPUR, Aug 8 (Bernama) -- The aspiration of making Malaysia a high-technology country by 2030 is part of an important agenda to develop a bio-innovation society in line with the goals outlined in the National Biotechnology Policy (DBN) 2.0. 

To achieve this agenda, society's knowledge and awareness of biotechnology (biotech) needs to be continuously improved to ensure that every layer of society understands and uses high technology in daily life. 

Following the recently held National Bioeconomy Exhibition (NBiOSHOWCASE 2024), this aspiration needs to be continuously supported by involvement from relevant industry players. 

Malaysian Bioeconomy Development Corporation Sdn Bhd (Bioeconomiy Corporation) chief executive officer Mohd Khairul Fidzal Abdul Razak said that he is confident that the goal can be achieved if the effort to increase awareness can start and continue from now onwards. 

He said the government is targeting every Malaysian to know about high technology, including biotech.

“Without realising it, our society has been using biotech products, technologies or processes every day, such as food, machines or biotech materials.

“To increase awareness is a long process especially to make the public realise that they are already part of the biotech sector. Once they know the importance of biotech, they will start moving towards certain biotech obligations,” he told Bernama recently.

He noted that it is possible to achieve this aim in six years.

When the people are already familiar with biotech, it is easier to bring in foreign investments as the investors would not face much difficulties in explaining what biotech is to potential employees, he said. 

Mohd Khairul Fidzal cited the success of NBiOSHOWCASE 2024, which also witnessed ALPS Global Holding Bhd, an integrated biotech company facilitated by Bioeconomy Corporation, emerging as Malaysia’s first biotech company to achieve unicorn status. 

That achievement met one of the main goals of the DBN 2.0 which aims to create three bio-innovation companies with unicorn status by 2030, he said.

Economy, SDG and Biotech

Commenting further on biotech, the sophistication of innovation should also be in tandem with the need to fulfill requirements under the Sustainable Development Goals (SDGs). 

With the rapid evolution of technology, many countries like Japan, Korea, European countries, and the United States have begun to use artificial intelligence (AI) in various sectors, including biotech.

Recognising that the current AI era presents other challenges, Mohd Khairul Fidzal stressed that adapting AI in the biotech field is also part of the effort to drive the country's bioeconomy. 

He added that the interest in using AI in biotechnology is not only recognised at the local level but also among international industry players, who want to see how this technology integrates into the bioeconomic sector.

"We do not see AI and biotech as competitors but as complementing each other. Many companies have started integrating information and communication technology and the Internet of Things into their operations. 

"Companies in Europe, for example, are now making sure that the source of their products is known to consumers. Switzerland has begun this step and the standard is now being adopted by its neighbouring countries,” he said. 

He stated that Bioeconomiy Corporation would not only focus on the biotech product, but also its processes and standards used.

“Although technology abroad is more advanced, we must try and ensure that our raw materials are produced properly,” he said.

Hence, the need for transparency in the supply chain will become more important, especially for domestic products to be exported to the European market, he said. 

Recently, Bernama reported that Bioeconomy Corporation has provided support and facilitation to more than 520 biotech and bio-based companies, including BioNexus, Bio-based Accelerator and companies involved in high-impact biotech projects in Malaysia. 

Cumulatively, companies in the biotech industry in Malaysia have achieved approved investments of RM14.3 billion, contributed RM37.5 billion to the country's gross domestic product, and successfully created 17,000 jobs. 

“This achievement demonstrates the vital role of the biotech industry in economic growth and job creation in Malaysia,” Mohd Khairul Fidzal added. 

-- BERNAMA