Selangor biotech plan to attract more businesses into state - MIDA | Malaysian Investment Development Authority
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Selangor biotech plan to attract more businesses into state

Selangor biotech plan to attract more businesses into state

18 Nov 2021

The Selangor government through Invest Selangor Bhd yesterday launched the Selangor Biotechnology Action Plan 2021–2030 initiative, which is developed to identify high potential biotechnology subsectors and aims to enrich the ecosystem to further propel the industry in the state.

The Selangor gross domestic product (GDP) in 2019 was RM344.5 billion, which is 24.2% of the national GDP. Annual GDP growth of Selangor in 2019 was at 6.7%, higher than the National GDP growth (4.3%). The biotechnology cluster is seen as an emerging sector in the state and has high potential to become the new economic growth for Selangor.

Selangor has an overarching vision to be the most liveable state to continuously attract businesses and talents throughout the region. In this pursuit, Selangor has recognised and acknowledged changing global trends and is ready to take the paradigm shift to address these issues.

To further enhance the well-established biotechnology cluster in Selangor, The Selangor Biotechnology Action Plan 2021–2030 is built upon reviewing the National Biotechnology Policy (NBP) and assessing its achievements to date, 15 years after it was launched. The findings from field survey, gap analysis and benchmarking analysis, as well as the views from the stakeholders collated at various deliberations were important inputs for the development of the Selangor Biotechnology Action Plan 2021–2030.

The Selangor Biotechnology Action Plan 2021–2030 encapsulates Selangor’s current strength and its aspiration with the vision to make Selangor as the regional biotechnology hub for innovation, technology dissemination, investment and human capital development. The Plan forms the state governance to decide policies, implement and monitor the biotechnology sectors strategies and initiatives.

The promotion of biotechnology sector will allow economies to continue meeting consumer demands without compromising low carbon footprint and the sustainability of biological resources. This shift would allow Selangor to embrace the new outlook and image of a state that balances its efforts in maximising industry production output with utilisation of sustainable resource and care for the environment.

Meanwhile, the Selangor state government also launched the Selangor Managed Industrial Park Standard Guidelines, a joint publication between Invest Selangor and Plan Malaysia for the management of industrial areas, where future industrial parks will be managed efficiently with new features to provide better services to companies setting up manufacturing plants in Selangor.

Industrial parks are areas zoned and planned for the purpose of industrial development; such a park can be thought of as a more “heavyweight” version of a business park or office park. The increasing numbers of investors each year has prompted many developers to develop industrial parks in Selangor.

The planning and buildings of Managed Industrial Park (MIP) are designed according to the criteria of the Selangor State Planning Standards Guidelines to ensure maximum efficiency and sustainability. Special economic zones have been designated to industrial parks and areas to promote industrial activity. Industrial parks will become an essential part of Selangor’s manufacturing related investment strategies.

Created as a one-stop industrial park, MIP is built with integrated and managed concept blessed with excellent amenities. High-speed fibre-optic broadband, as well as power, water and natural gas utilities are catered for operators in the fully gated and guarded enclave that utilises top-notch equipment for 24-hour CCTV surveillance and security control.

Besides that, MIP has a dedicated in-house maintenance team to keep the surroundings clean, tidy and properly maintained to ensure that the industrial park common area is maintained at the tip top condition.

Source: The Sun Daily