Bioeconomy Corporation Contributes RM39.9 Billion to Malaysia’s GDP Over Two Decades

PUTRAJAYA – The Malaysian Bioeconomy Development Corporation (Bioeconomy Corporation) has contributed RM39.9 billion to Malaysia’s Gross Domestic Product (GDP) over the past 20 years, reinforcing its position as a key catalyst for the nation’s biotechnology and bio-based industries.

Established in 2005 following the introduction of the National Biotechnology Policy (NBP) and strengthened under the National Biotechnology Policy 2.0 (NBP 2.0) launched in 2022, Bioeconomy Corporation operates under the Ministry of Science, Technology and Innovation (MOSTI).

The agency spearheads Malaysia’s bioeconomy development through investment facilitation, industry support, and strategic innovation initiatives.

Through its flagship programmes — the BioNexus Status and Bio-based Accelerator (BBA) — the Corporation has facilitated over RM14.6 billion in approved investments, generated more than 16,600 jobs nationwide, and supported nearly 650 companies across the bio-based value chain.

Science, Technology and Innovation Minister Chang Lih Kang said the Corporation’s 20-year milestone underscores the government’s continued trust in the agency to drive Malaysia’s transition into a globally competitive bioinnovation nation.

He noted that in 2025 alone, investment and commercial value captured through Bioeconomy Corporation increased from RM1.55 billion in 2024 to more than RM2.44 billion — a growth of nearly 60%.

“Bioeconomy Corporation continues to advance the progress of NBP 2.0, with the aspiration of positioning Malaysia as a high-technology bioinnovation nation by 2030,” he said.

“These achievements reflect the organisation’s expertise, experience and strong execution built over two decades.”

He added that Bioeconomy Corporation will sharpen its focus on six high-value, high-growth sub-sectors over the next five years:
next-generation proteins, regenerative propagation, sustainable materials, bio-based chemicals, regenerative medicine, and precision diagnostics.

This strategic direction supports the Thirteenth Malaysia Plan (2026–2030), contributing to blue, green and silver economy initiatives.

Bioeconomy Corporation Chief Executive Officer, Mohd Khairul Fidzal Abdul Razak, said the organisation’s success is driven by strong support from MOSTI and close collaborations with ministries, agencies, industry players, academia and global partners.

“In 2026, we aim to generate at least RM2.2 billion in revenue from BioNexus Status and BBA companies. In line with the MADANI Government’s priorities, we will also explore digital and AI-enabled solutions to help companies scale more efficiently,” he said.

He added that the integration of artificial intelligence across agriculture, healthcare and industrial bioeconomy sectors will strengthen food security, boost healthcare innovation, support the circular economy and create new economic opportunities.

Since 2005, Bioeconomy Corporation has provided end-to-end support in investment promotion, SME development, talent upskilling, market access and funding facilitation. These initiatives are aligned with the National Science, Technology and Innovation Policy (NSTIP) 2021–2030, which aims to position Malaysia as an innovation-driven, high-technology nation by 2030.

Over the past five years, more than 560 industry players have been trained in regulatory compliance, tax requirements, talent management and funding access.

Other major milestones include the creation of Malaysia’s first biotechnology unicorn in 2024 and facilitating 18 BioNexus Status companies to achieve public listings on major exchanges including the New York Stock Exchange, London Stock Exchange and Australian Securities Exchange.

Since 2021, the BeST 2.0 programme has offered over 1,900 job opportunities, with a 91% employment rate among local science, technology and innovation talents entering the bio-based and biotechnology sectors.

As Bioeconomy Corporation commemorates its 20th anniversary in 2025, these achievements highlight two decades of advancing biotechnology, empowering communities and driving high-value job creation — solidifying the bioeconomy as a crucial pillar of Malaysia’s sustainable development.