Materia Medica Malaysiana

Biotechnology Policy To Promote Herbal And Natural Products

Science, Technology and Innovation Minister Datuk Seri Dr Jamaludin Jarjis said the policy would develop the biotechnology sector similar to how the government built up the information and communications technology (ICT) sector.
"The policy will contain among others, the incentives, monetary and infrastructure to be provided. It will be our next engine of growth," he told reporters after launching the Asia-Pacific Natural Products Expo (Natpro 2005), here Thursday.
Jamaludin said the global herbal industry represented an US$80 billion (US$1=RM3.80) market and its growth rate in Malaysia has been between eight and 12 percent annually over the past three years.
In 2003, there were 33,059 products registered with the Health authorities under the Control of Drugs and Cosmetic Regulations 1984, of which 11,815 or 35.7 percent were traditional herbal products.
"Nature has blessed Malaysia with an abundance of untapped variety of medicinal and aromatic plants as she is among the world's 12 mega biodiversity-rich countries and the fourth in Asia," he said.
"We are capable of becoming a leader of excellence in the industry where we have the competitive edge as well as reaping the vast economic rewards," he added.
The government, Jamaludin said, has put in place regulatory procedures to accommodate and facilitate market growth and at the same time ensure consumer confidence in the safety of herbal medicines.
Natpro 2005, organised by the Malaysian Herbal Corporation, a subsidiary company of the Malaysian Industry-Government Group for High Technology (MIGHT), is a three-day event which started today.
It expected to attract 6,000 trade visitors with the participation from 152 companies and organisations from various areas linked to the herbal and natural products industry.
The inaugural 2003 event, held in 2003, generated RM150 million worth of sales.