Malaysia’s bio-based industry has recorded an approved investment worth RM7.5 billion as at December 2017. Malaysia Bioeconomy Development Corp chief executive officer Dr Mohd Shuhaizam Mohd Zain said out of that amount, RM5 billion were foreign direct investments (FDI). He noted that since 2012, 77 anchor projects have been established. They provide 26,700 job opportunities and are expected to generate RM23.3 billion in gross national income by 2020. At the opening of the Bioeconomy Day, Shuhaizam reiterated progress in bioeconomy was not just about going beyond national and regional borders as industry players also need to cross the boundaries that exist within industries and sectors. “An example of this will be our Bioeconomy Community Development Programme (BCDP), which connects bio-based companies with farming communities and allow them to participate in value creation through bio-based innovations while providing additional income to these communities," he said. To date, Shuhaizam noted there are 33 biomass plants set up in the rural areas to generate 26,412 megawatts (MW) in renewable energy, per year.

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