The Malaysian Bioeconomy Development Corporation (Bioeconomy Corporation) is eyeing MYR 2.2 billion ($540 million) of revenue in 2026.
“In 2026, we aim to generate at least MYR 2.2 billion ($540 million) in revenue from BioNexus Status and BBA companies,
“In line with the MADANI Government’s priorities, we will also explore the adoption of digital and artificial intelligence (AI)-enable solutions to help companies scale and accelerate their growth more efficiently,” Bioeconomy Corporation’s Chief Executive Officer Mohd Khairul Fidzal Abdul Razak said.
He added that the convergence of AI across agriculture, healthcare and industrial bioeconomy sectors will strengthen food security, advance healthcare innovation, support the circular economy, and unlock new economic opportunities.
He attributes the organization’s accomplishments to strong support from Ministry of Science, Technology and Innovation (MOSTI) and close collaborations with local and international ministries, agencies, industry players, academia, and other partners across the bioeconomy ecosystem.
Since 2005, Bioeconomy Corporation has nurtured companies from local growth to global expansion by providing end-to-end support in investment promotion, small and medium-sized enterprise (SME) and talent development, market access, and funding facilitation.
Its initiatives align with the National Science, Technology and Innovation Policy (NSTIP) 2021–2030, supporting Malaysia’s ambition to become a high-tech, innovation-driven nation by 2030.
Established following the introduction of the National Biotechnology Policy (NBP) in 2005 and strengthened under National Biotechnology Policy 2.0 (NBP 2.0) launched in 2022, Bioeconomy Corporation operates under the MOSTI to spearhead Malaysia’s bioeconomy growth.
The corporation has contributed MYR 39.9 billion ($9.75 billion) to Malaysia’s gross domestic product (GDP) over the past 20 years, cementing its role as a key driver of the nation’s biotechnology and bio-based industries.
Through its two flagship programs, BioNexus Status and the Bio-based Accelerator (BBA), Bioeconomy Corporation has facilitated over MYR 14.6 billion ($3.57 billion) in approved investments, generated more than 16,600 jobs nationwide, and supported nearly 650 BioNexus Status and BBA companies.
Minister of MOSTI, Chang Lih Kang, said Bioeconomy Corporation’s 20-year milestone reflects the government’s continued confidence in the agency to lead Malaysia’s bioeconomy towards global competitiveness.
It is noted that over the past five years, more than 560 industry players were trained to strengthen regulatory and tax compliance, talent management, and funding access.
Other key milestones include the creation of Malaysia’s first biotechnology unicorn in 2024 and enabling 18 BioNexus Status companies to achieve public listings on local and international markets, including New York Stock Exchange, London Stock Exchange and Australian Securities Exchange.
Since 2021, over 1,900 job opportunities were offered through its BeST 2.0 program, with local STI talents securing a 91 percent employment rate in the bio-based and biotechnology industries.
As Bioeconomy Corporation marks its 20th anniversary in 2025, these achievements underscore two decades of impact in empowering communities, creating high-value jobs, and positioning the bioeconomy as a key pillar of Malaysia’s sustainable development, said the statement.
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