Malaysian Bioeconomy Development Corporation (Bioeconomy Corporation)
Malaysian Bioeconomy Development Corporation Sdn Bhd (Bioeconomy Corporation) is the leading economic development agency for the biotechnology and bio-based industries in Malaysia. Established in 2005, Bioeconomy Corporation is owned by the Minister of Finance Incorporated and Federal Lands Commissioner and has been under the purview of the Ministry of Agriculture and Food Industries (MAFI) since November 2018. Bioeconomy Corporation provides support, facilitation, and advisory services to nurture an enabling ecosystem of business, academic, and scientific communities including start-ups that drives the biotechnology and bio-based industries in Malaysia. These services cover business, investment, R&D, human capital development, financial infrastructure, legal and regulatory framework, and strategic development with government support and commitment. Through Bioeconomy Corporation, the Government awards the BioNexus Status to qualified international and Malaysian companies undertaking value-added biotechnology, bio-based, or life science activities. The special status bestows the companies with fiscal incentives, facilitation, and other guarantees to assist their growth.