WHEN Malaysia decided to embark on the biotechnology journey a few years ago, it was hailed as a good move by many. After all, that field had been touted as the next big wave after information and communications technology.

The country has been embracing research and development (R&D) to stimulate its economy for many years through such initiatives as the MSC. The move into biotechnology is simply another way to leverage on the existing R&D culture. Besides, the country is blessed with abundant natural resources that the biotechnology industry can tap into.

As the biotechnology sector had been identified as a new engine of economic growth to boost the country’s competitiveness in the wake of challenges from regional economies such as China and India, a national policy on biotechnology had been formulated and a lead agency set up to spearhead the initiative.

Now, several years on, observers reckon efforts need to be stepped up to drive the initiative. For one, the progress has not been as encouraging as expected, despite the commitment given by the Government and relevant agencies to give biotechnology a national-status initiative.

There is a need to attract more investors to pump in funds for R&D. Shortage of talent is another issue critical to drive R&D.

Obviously, Malaysia is not alone in the quest to get a slice of the potentially lucrative market. The battle is getting more intense in this part of the region, with countries such as China, India, Singapore and South Korea getting more aggressive to realise their biotechnology dreams. And competition is expected to become even tougher.

Looks like Malaysia needs to show more urgency and rise above the challenge if it wants to become a global biotechnology hub.