SELANGOR, Malaysia’s premier industrial hub, is undergoing a strategic transformation, redirecting its economic focus towards the dynamic domains of biotechnology and life sciences.
This directional shift signifies a deliberate move beyond industries characterised by shorter gestation periods, emphasising instead a commitment to long-term sustainability and robust research and development (R&D) efforts.
Selangor is Malaysia’s industrial heartland, and its economic development focus includes the enduring sectors of biotechnology and life sciences. This recalibration of focus aligns with Selangor’s vision to foster sustainable solutions to global challenges, ensure resilience against economic shocks, and to adapt and evolve from vital lessons learned from the COVID-19 pandemic.
Emphasising forward-thinking initiatives, Selangor unveiled the Selangor Biotechnology Action Plan (SBAP) in 2021, followed by the establishment of the Selangor Biotechnology Coordination Office (S-BIOCO) in 2022 within Invest Selangor Berhad.
These strategic initiatives underscore the state’s commitment to nurturing a knowledge-intensive economy, laying the groundwork for robust development in the life sciences industries. Notably, the impressive average investment of approximately RM1 billion in the life sciences sector between 2018 and 2022 positions Selangor as a focal point for pioneering research and promising career opportunities in biotechnology and life sciences.
Capitalising on its well-established ecosystem, Selangor has cultivated a mature landscape, leveraging strengths in academia, research, and healthcare. This strong foundation places the region at the forefront of future-ready industries, particularly in biotechnology, setting the stage for continuous growth and innovation.
The recent Selangor International Business Summit (SIBS 2023) played a pivotal role in solidifying Selangor’s status as the Gateway to ASEAN.
Hosting 612 exhibitors and attracting 57,249 visitors, the event generated a potential transaction value of RM6.12 billion, underscoring its significance in contributing to substantial economic growth. Within the life sciences sphere, SIBS spotlighted medical and healthcare innovations, featuring 84 booths and indicating a potential transaction value of RM11.2 million.
Numerous life sciences programmes accentuated Selangor’s commitment to pioneering research and innovation in these cutting-edge fields. The launch of the Selangor Lab Partnership Program marked a significant stride towards collaborative projects within the thriving life sciences sector. S-BIOCO’s spearheading of strategic partnerships and knowledge exchange between the industry and local academic institutions has strengthened collaborations, notably through initiatives like the Selangor Lab Partnership Program. This university – industry – government (UIG) initiative has fortified the region’s foundation for collaborative bioindustry research and innovation.
The Bio-based Selangor Accelerator Program (SAP), a joint effort between Invest Selangor Berhad (S-BIOCO) and SIDEC, is a crucial platform for bio-based companies to engage with financial investors, further catalysing collaborative innovation and commercialisation of latest biotechnologies. Additionally, strategic collaborations with federal initiatives like BioAlliance and i-Connect amplify partnerships with local universities, establishing a cohesive framework for Selangor’s vibrant bioindustry ecosystem.
Selangor’s competitive advantage lies in its well-structured strategic plan outlined in the Selangor Biotechnology Action Plan (SBAP) 2021-2030, its excellence in academia, a substantial annual talent pool of approximately 75,000 graduates contributing to the bioindustry, a mature ecosystem housing major industry players, and consistent life sciences investments totalling RM7.1 billion over the last five years.
Looking toward the future, Selangor is directing significant resources towards securing food sources. It has allocated RM40 million to Perbadanan Kemajuan Pertanian Selangor (PKPS) and the state government to enhance food security through local cultivation of corn, among other efforts within the agriculture sector.
Simultaneously, environmental sustainability initiatives, healthcare advancements catering to an aging society, dedication to the halal industry, and investment in education infrastructure underscore the region’s commitment to diversification, knowledge development, and cutting-edge research within life sciences and biotechnology.
