PETALING JAYA: Following the exchange of a memorandum of understanding during the opening ceremony of the International Digital Economy Conference Sarawak (IDECS25) last month, BioVerde Technologies Sdn Bhd (BVT) and Malaysian Bioeconomy Development Corporation (Bioeconomy Corp) are advancing into the implementation phase of their partnership to drive innovation, investment and sustainability in Malaysia’s bioeconomy.
In a statement, they said both organisations have begun identifying actionable initiatives under six core pillars: accelerating commercialisation, generating sustainable value, fostering innovation and research, expanding ecosystem and talent development, sharing market intelligence and advancing Sarawak and Malaysia’s sustainable bioeconomy.
As an early focus, Bioeconomy Corp is working closely with BVT and other state partners on early efforts to shape a Sarawak Bioeconomy Roadmap, a state-level initiative now in its planning phase.
Acting on a directive from its board, BVT is supporting this interagency effort to align Sarawak’s biodiversity-based innovation and commercialisation with Malaysia’s National Biotechnology Policy 2.0 (NBP 2.0) through inclusive consultation with government, research, and industry stakeholders.
Building on the strong momentum of IDECS25 and the National Bioeconomy Showcase 2025 – which saw over RM300 million in potential bio-based investments – the collaboration will focus on developing joint programmes, industry engagement platforms and investment facilitation mechanisms to connect Sarawak’s biodiversity research with commercial markets across Malaysia.
“This partnership now moves into action – from strategy to execution,” BVT CEO Hazwan Razak said, adding that they are bridging science and enterprise, ensuring Sarawak’s biodiversity-led innovation contributes meaningfully to Malaysia’s broader bioeconomy ambitions.
Bioeconomy Corp CEO Mohd Khairul Fidzal Abdul Razak said, “By aligning Sarawak’s unique biodiversity resources with national bio-based growth initiatives, this collaboration will strengthen Malaysia’s competitiveness in sustainable innovation and attract investment into high-value bio-industries.”
He added that the collaboration is expected to create new opportunities for the bio-based stakeholders in Sarawak, including industry players, researchers, entrepreneurs, talents and rural communities.
As the commercial arm of the Sarawak Biodiversity Council, BVT works alongside the Sarawak Biodiversity Centre to commercialise biodiversity research findings as sustainable bio-based ventures. The partnership with Bioeconomy Corp supports shared national objectives under NBP 2.0 and Sarawak’s Post-Covid Development Strategy 2030).
