What regulatory supports the government of Malaysia is providing for biotechnology companies?
Various ministries are working to establish the regulatory framework that will support the biotech industry. The biosafety law was passed last year and will regulate the import, export, handling and use of Living Modified Organisms (LMOs) and will be enforced in the second half of this year. The Plant Variety Act is in place and the Ministry of Agriculture is working on the regulations. Whereas Good Laboratory Practice (GLP) and Good Clinical Practice guidelines are also in the pipeline. All these Acts and guidelines should act as an enabling tool and provide a conducive working environment for industry and investors. Besides regulatory support, the government has many financial and funding schemes and mechanisms to encourage companies to venture into biotechnology. Tax incentives and various grants are available for deserving biotech companies. The Malaysian Biotechnology Corporation was established in 2005 to serve as a one-stop center to cater to the needs of the biotech industry an
