PUTRAJAYA: The Biotechnology Implementation Council meeting today identified 10 Entry Point Projects (EPPs) specifically to boost the national biotechnology sector, which will create 20 trigger projects that can increase gross national revenue to RM3.6 billion, besides creating 13,600 high quality new job opportunities.

Prime Minister Datuk Seri Najib Razak said the biotechnology sector's current achievement has been very encouraging.

Under the phase two of the National Biotechnology Policy implementation between 2011 and 2015 with the focus to turn biotechnology industries towards business and commercialisation, there are achievements that had surpassed the set target, he said.

Najib said today's meeting also decided that the Biotechnology Implementation Council be renamed as the National Bioeconomy Council because the bioeconomy terminology is seen to be more comprehensive than biotechnology.

The biotechnology sector's meteoric growth has created a new industry in the country, he said, citing the example of Gevo Inc, which will invest RM1.69 billion to build a plant that will produce biochemical derivative products, biomaterial and biofuel.

This project will turn Jerantut into a world's caviar production centre, an initiative that was beyond our imagination all these while, but now this project will be implemented via I-Caviar involving RM475 million over five years.

This is an example of how with the technological applications, we can bring big changes to an area where we cannot bring much development.

"We can also introduce a new industry that is not indigenous to our country.

This is a very meaningful example on how biotechnological development has a lot of positive impact on our country," he said.

Najib also said an American company will invest US$1 billion in a integrated lobster aquaculture project in Semporna, Sabah.

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PM unveils 10 EPPs to boost biotech sector