Malaysia announced its 2008 budget today, and I copy the budget that I concerns from the 2008 budget speech.
41. In the context of supporting private sector initiatives in the biotechnology industry, the Government will continue to provide infrastructure and technological facilities. For this purpose, a sum of RM236 million is provided in the 2008 Budget. Among the projects are the acquisition of technology, development of biodiversity research centre and biotechnology commercialisation centre as well as anti-cancer compound research. To encourage cooperation between biotechnology companies and local universities, Bionexus status companies will be allowed to use the laboratories and research facilities at local universities, thereby optimising the capacity of research laboratories and facilities at local universities.
Although Malaysia aims to be a strong and advanced biotechnology centre, but it’s still far more behind from other countries, especially its regional competitor, Singapore. RM236 million is equivalent to USD 67 million.