KUALA LUMPUR: The Kenaf industry is expected to generate a revenue of about RM350 million and RM3.5 billion domestically and globally by 2025.
Deputy Primary Industries Miinister Datuk Seri Shamsul Iskandar Mohd Akin said the industry has a massive potential to be a new source of economy for the country due to its unique and environmental-friendly elements.
"The ministry, through Lembaga Kenaf dan Tembakau Negara (LKTN), is pushing for the processing and manufacturing factory in Setiu, Terengganu will be able to produce high-impact product offerings after it is completed in 2019.
"The research and development for kenaf is also aggressively done to ensure that it meets the prerequisite for the kenaf-based products to be able to produced.
"There are also 13 working papers that will be presented during this conference spanning across the automotive, construction, manufacturing, biocomposite, health and farming industries," he said during his opening speech at the National Kenaf Industry Conference 2018, here, today.
The factory is expected to be the catalyst to the industry as it will be producing the fibre which will be the raw material it needs to produce more high-value kenaf-based product offerings.
The conference will also carry out business matchings between relevant government agencies, research institutes, and the private sector with kenaf-based products.
Shamsul said the conference will be able to provide an aerial view over the progress, potential and economic opportunities for all participants.
Newly-completed product Encapsulated-Kenaf Carrier Oil was also launched today, described to have omega-6 and omega-9 that functions as an anti-ageing, anti-inflammatory agent with potential to be marketed in the cosmetic industry.
"I hope strategic partnerships between the public and private entities can be further expanded and be one of the main contributors to the country's socioeconomic development,” he said.