KOTA SAMARAHAN (Aug 13): Sarawak is eyeing a share of the projected US$4.3 trillion global biotechnology market by leveraging its rich biodiversity, strengthening research capabilities and accelerating commercialisation, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.
He said Sarawak did not need to capture a large portion of the global market, with even a small share representing a significant opportunity for the state.
Asked how much Sarawak could potentially gain from the projected US$4.3 trillion market, Abang Johari said this would depend on the investors the state managed to attract.
“I don’t know. It depends on the investors. Once they come in and start investing, then we will know.
“Just a slice of pie pun cukup (is enough). Even a small share would be enough,” he told reporters after officiating the foundation-laying and exchange-of-agreements ceremony for the Sarawak Bioindustrial Park (SBP) here.
Earlier in his speech, Abang Johari said Fortune Business Insights projected the global biotechnology market to grow from US$1.5 trillion in 2026 to US$4.3 trillion by 2034.
“In other words, there is ample space for us to contribute to the growth of biotechnology,” he said.
He said Sarawak had a strong foundation for entering the sector, given its extensive biodiversity and the research capabilities of the Sarawak Biodiversity Centre (SBC).
“Sarawak is a big state with extensive forests and abundant resources, so we should make better use of them. That is why we initiated the Bioindustrial Park,” he said.
Abang Johari said the SBP would serve as an extension of the SBC, providing a platform for research findings to be translated into commercial products for international markets.
“Research can be carried out at the Sarawak Biodiversity Centre, and the outcomes must then be applied to industrial products,” he said.
He said Sarawak’s biodiversity could be explored for products in areas including healthcare, cosmetics and pharmaceuticals, with scientific research and technology used to identify and extract useful compounds from plants.
“We have a vast reservoir of biodiversity resources. What we can do is contribute some of these resources to the Bioindustrial Park and attract investors,” he said.
Abang Johari said investors would be able to work with the SBC, which had developed various products through its research that could potentially be commercialised.
He also highlighted the potential of artificial intelligence and DNA data to accelerate research and development by helping scientists identify biological resources and compounds with potential applications.
Abang Johari said Sarawak could learn from countries such as Switzerland and Singapore, which had developed strong biotechnology and biomedical industries through technology despite having fewer natural resources.
He said the state would continue investing in research and developing more scientists to support its transition into the new economy.
“The only question is whether we are willing to put in the effort. Sarawak will invest in research.
“I will reinvest our revenue into research so that we can become a player in the new economy,” he said.
He said Sarawak’s direction was clear: to build scientific capabilities, harness its biodiversity and translate research into products capable of competing in international markets. Credit: Borneo Online Post