Bioeconomy to contribute 11.3 pct to GDP this year

KUALA LUMPUR: The bioeconomy sector is expected to maintain its 11.3 per cent contribution to the country's gross domestic product (GDP) this year.

Malaysian Bioeconomy Development Corporation (Bioeconomy Corp) Acting Chief Executive Officer, Syed Agil Syed Hashim, said the sector accounted for 11.3 per cent or RM130.8 billion of the total GDP last year.

"As of November 2016, 28 projects under the Bioeconomy Community Development Programme (BCDP) have been carried out nationwide.

"The projects, which include seaweed, mushroom and bee farming, involve 747 farmers and will have a direct impact on 3,586 villagers throughout the country.

"With these projects, I am confident that the GDP contribution will remain similar to 2015," he told reporters after launching the Sabah BCDP project here yesterday.

Syed Agil said next year, more than 30 BCDP projects would be implemented and focused on the local communities especially those in the Bottom 40 income group to help them generate more income.

"The corporation's role will also be as the business matchmaker between local communities and anchor companies," he said.

The BCDP is the lead component of the BioAccelerator Programme under the Bioeconomy Transformation Programme that was introduced in October 2012. — Bernama