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Selangor to attract investors via biotech industry

Selangor to attract investors via biotech industry

25 Jul 2022

The Selangor government via its invest arm, Invest Selangor Bhd, plans to boost the state biotechnology industry to attract more investors.

Selangor Exco For Investment, Industry, Trade and Small and Medium Industries Datuk Teng Chang Khim said the state established the Selangor Biotechnology Coordination Office (S-Bioco) in 2021 and has made several efforts to promote the biotechnology industry beginning this year.

“Efforts to promote biotechnology began in 2022 where a series of visits in the county were held by Invest Selangor, visiting Penang and Johor,” Teng told a Dewan Negeri Selangor today.

He noted that Invest Selangor also met with several industries and subsectors, mainly the agriculture, medicine and environment to realise the Selangor Biotech action plan by 2030.

“Apart from that, Invest Selangor also held a meeting with government agencies and private agencies which are directly or indirectly involved in the development of the biotechnology industry ecosystem.

“It is important to include them because the plan will not be implemented without their support,” he said.

Meanwhile, Invest Selangor plans to expand the S-Bioco promotional activities to international markets.

“The biotechnology sector has its own attraction, especially after Covid-19, and has a high potential to drive the economy of Selangor,” he added.

According to him, the biotechnology sector has been selected as among the focus sectors in the First Selangor Plan 2021-2025.

Source: The Malaysian Reserve

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