“Malaysian bio-based companies can venture into Sri Lanka and co-develop high impact bio-based projects to add value to their products and services.”
DR MOHD SHUHAIZAM MOHD ZAIN, Bioeconomy Corp chief executive officer
MALAYSIAN Bioeconomy Development Corp Sdn Bhd (Bioeconomy Corp) and Sri Lanka’s Coordinating Secretariat for Science, Technology and Innovation (COSTI) yesterday exchanged a memorandum of collaboration to develop a framework for Sri Lanka’s bioeconomy.
The collaboration will see both parties leveraging each other’s mandates and tap each other’s field of expertise, network, resources and know-how, including through the sharing of business, trade, research, regulatory and information to expand bioeconomy in both countries.
Under the memorandum, Bioeconomy Corp will be appointed as a consultant for COSTI to develop Sri Lanka’s bioeconomy initiative.
This will include the undertaking of suitable bioeconomy projects for Sri Lanka by leveraging the successful Malaysian bioeconomy framework.
Apart from that, Bioeconomy Corp will be appointed as a service provider to Sri Lanka Institute of Biotechnology to assist in the management of a dedicated biotechnology park in Colombo.
Bioeconomy Corp is also exploring the prospects of leveraging the substantive expertise in Sri Lanka to rejuvenate Malaysia’s coconut industry.
“Bioeconomy Corp is pleased to share 12 years of experience and expertise in developing the bioeconomy initiative with Sri Lanka.
“Through the enforcement of National Biotechnology Policy,
Malaysia has accomplished significant advancements in the biotechnology and bio-based industries.
“We hope to do the same for Sri Lanka by implementing a similar bioeconomy framework. This collaboration reflects the belief and trust that Sri Lanka has put on Malaysia and it shows that our bioeconomy sets the standard for other countries to emulate,” said Bioeconomy Corp chairman Tan Sri Zakri Abdul Hamid in a statement yesterday.
Bioeconomy Corp chief executive officer Dr Mohd Shuhaizam Mohd Zain said Sri Lanka had the potential to become a strategic bioeconomy partner for bioplastic, biosimilars and waste-to- wealth programmes.
“Malaysian biobased companies can venture into Sri Lanka and co-develop high impact biobased projects to add value to their products and services.
“We look forward to a productive and collaborative relationship with Sri Lanka in the long term,” he added.
The signing of memorandum was witnessed by Prime Minister Datuk Seri Najib Razak and Sri Lanka President Maithripala Sirisena in conjunction with Najib’s visit to Sri Lanka.
The visit commemorated the 60th anniversary of diplomatic relations between Sri Lanka and Malaysia, with the two leaders reaffirming their commitment to further enhance bilateral ties in the years ahead.