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Malaysia unveils national biotech policy

New government agency is tasked with developing the country's up-and-coming biotechnology industry

PUTRAJAYA, Malaysia--Malaysian Prime Minister Abdullah Ahmad Badawi on Thursday unveiled a new government agency tasked with developing the country's up-and-coming biotechnology industry. Speaking at the opening of the BioMalaysia 2005 conference in Putrajaya International Convention Center, Prime Minister Badawi said the newly-created Malaysian Biotech Corp. will work closely with the relevant ministries to enhance biotech R&D and help improve the regulatory environment. It will also oversee the implementation of the new policies and initiatives.

The MBC will also look into creating opportunities for commercial spin-offs; providing funding and industry development services; and advancing R&D and commerce in agriculture biotechnology, healthcare biotechnology and industrial biotechnology.

Cordelia Lee reports for CNETAsia. For the full story, click here.