Companies / Malaysia
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Malaysia Attracting Biotech Investment
May 2006 | Company Finance AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Malaysian biotechnology firm Malaysian Biotechnology has announced that it has reached an agreement with three unnamed foreign drugmakers interested in investing in Malaysia' biomedical industry. The companies are thought to be willing to invest between US$100mn - US$200mn each. The Malaysian government has recently highlighted the biotech industry as a key engine of growth for the economy. In April 2005, the authorities unveiled a new 'National Biotechnology Policy', which aims to attract US$10bn into the sector over a ten-year period. In addition, the government has embarked upon a policy of purchasing technology from abroad with the aim of stimulating