Bioeconomy Corporation Targets RM2.2 Bln Revenue In 2026

PUTRAJAYA, Jan 7 (Bernama) -- Bioeconomy Corporation aims to generate at least RM2.2 billion in revenue from companies under its BioNexus Status and Bio-based Accelerator (BBA) programmes in 2026, said chief executive officer Mohd Khairul Fidzal Abdul Razak.  

He said in a statement today that the target is in line with the MADANI Government’s priorities, and that the company will also explore the adoption of digital and artificial intelligence (AI)-enabled solutions to help companies scale and accelerate their growth more efficiently.

“The convergence of AI across agriculture, healthcare and industrial bioeconomy sectors is expected to strengthen food security, advance healthcare innovation, support the circular economy and unlock new economic opportunities,” he said.

He added that since 2005, Bioeconomy Corporation has provided end-to-end support to companies, including investment promotion, SME and talent development, market access and funding facilitation, in line with the National Science, Technology and Innovation Policy 2021–2030.  

He also shared that over the past five years, more than 560 industry players were trained to enhance regulatory and tax compliance, talent management and access to funding, while Malaysia’s first biotechnology unicorn was created in 2024.  

The corporation also enabled 18 BioNexus Status companies to achieve public listings on local and international exchanges, including in New York, London and Australia, and facilitated more than 1,900 job opportunities through its BeST 2.0 programme since 2021.  

Meanwhile, the Malaysian Bioeconomy Development Corporation has contributed RM39.9 billion to Malaysia’s gross domestic product (GDP) over the past 20 years, reinforcing its role as a key driver of the nation’s biotechnology and bio-based industries.  

Operating under the Ministry of Science, Technology and Innovation (MOSTI), the agency has facilitated over RM14.6 billion in approved investments, created more than 16,600 jobs nationwide and supported nearly 650 companies through its BioNexus Status and BBA programmes.  

Science, Technology and Innovation Minister Chang Lih Kang said the corporation’s 20-year milestone reflects the government’s confidence in its role to lead Malaysia’s bioeconomy towards global competitiveness, particularly under the National Biotechnology Policy (NBP) 2.0.  

“In 2025 alone, estimated investment and commercial value that was captured under Bioeconomy Corporation’s facilitation increased from RM1.55 billion in 2024 to over RM2.44 billion, representing nearly 60 per cent growth.

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

The ministry, he said, is confident that even greater value will be achieved in the coming years, particularly as the organisation sharpens its focus over the next five years on six high-value, high-growth sub-sectors: next-generation proteins, regenerative propagation, sustainable materials, bio-based chemicals, regenerative medicine and precision diagnostics.

“This strategic direction supports the 13th Malaysia Plan (2026–2030), contributing to economic growth through blue, green and silver economy initiatives,” he stressed.

-- BERNAMA