KUALA LUMPUR (July 17): Invest Selangor Bhd said it is teaming up with Malaysian Bioeconomy Development Corp Sdn Bhd (Bioeconomy Corp), a company under the Ministry of Science, Technology and Innovation (Mosti), to advance Selangor’s biotechnology sector.

The two companies signed a memorandum of understanding (MOU) on Wednesday, aimed at leveraging their respective strengths, expertise and networks in further developing the state's biotechnology and bio-based industries, said Invest Selangor in a statement, adding that the MOU showcased a strong partnership between the federal and state governments in advancing the sector.

"This MOU marks a significant collaborative effort aimed at realising Selangor's biotechnology vision, as outlined in the Selangor Biotechnology Action Plan (SBAP)," added Invest Selangor.

SBAP is a flagship initiative by Invest Selangor that provides a comprehensive roadmap for enhancing the biotechnology industry in Selangor, focusing on the medical and healthcare biotechnology, agricultural biotechnology, and industrial and environmental biotechnology sub-sectors.

Bioeconomy Corp, established in 2005, is the country’s primary economic development agency for the biotechnology and bio-based industries.

“Their expertise and contributions demonstrate Bioeconomy Corp’s commitment to advancing Selangor’s biotechnology sector through strategic initiatives promoting innovation and sustainable growth, aligned with Selangor’s economic goals,” Invest Selangor said.

The MOU was signed by Invest Selangor CEO Datuk Hasan Azhari Idris and Bioeconomy Corp's CEO Mohd Khairul Fidzal Abdul Razak. The event was witnessed by Prime Minister Datuk Seri Anwar Ibrahim as well as Mosti Minister Chang Lih Kang, deputy minister Mohammad Yusof Apdal, and secretary general Datuk Dr Aminuddin Hassim. Also present was Bioeconomy Corp chairman Datuk Dr Lee Boon Chye.

“This is another opportunity for strategic collaboration between Invest Selangor and Bioeconomy Corp to explore and implement key strategies underlined in our Selangor Biotechnology Action Plan 2021-2030,” said Hasan. “We look forward to this collaboration.”

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