Healthcare And Wellness Sector To Bring Impact To Malaysian Economy - Minister

PUTRAJAYA (Malaysia), July 8 (Bernama) -- The BioMalaysia & ASEAN Bioeconomy 2015 conference and exhibition will introduce the business-to-consumer aspect, focusing on healthcare and wellness bio-products, to bring a significant impact to the Malaysian and ASEAN region's economy. Malaysian Science, Technology and Innovation Minister Dr Ewon Ebin said the sector had the ability to cut across different industries and the potential to transform Malaysia into a high-income, inclusive and sustainable economy. Since the global wellness market now is worth US$3.4 trillion, he said it would encourage business partnership opportunities between the Malaysian, ASEAN and global players. "This is set to encourage partnerships to spur innovation and growth in the bio-based sector, with the aim to position Malaysia as a bioeconomy powerhouse in the future," he said at a press conference, here, Tuesday. Malaysia will host the three-day conference and exhibition, themed 'ASEAN Bioeconomy: Biodiversity to Wellness' from Aug 17, with more than 10,000 trade visitors and 250 exhibitors including an international pavilion of the Gulf Cooperation Council (GCC). Ewon said Malaysia, as the current ASEAN chair, would also showcase its latest technologies, innovations and products from 250 local biotechnology companies at the BioMalaysia & ASEAN Bioeconomy 2015 conference and exhibition. "This year, we will see some exciting changes to elements of the conference, as one significant change is the inclusion of ASEAN Bioeconomy, which will set to encourage the growth of bio-based industries and deliver economic benefits to the region," he said. Besides the wellness and healthcare sector, the conference will also focus on bioeconomy in the ASEAN region, which can be a game changer to tackle ASEAN's economic challenges. "The event is set to offer Malaysia as the gateway for ASEAN bioeconomy and to create a more supportive, holistic and integrated environment for bioeconomy to flourish in the region," Ewon said. --BERNAMA