ID :
23154
Tue, 10/07/2008 - 17:37
Auther :
Shortlink :
https://www.oananews.org//node/23154
The shortlink copeid
MALAYSIA'S HERBAL SECTOR TO GROW AT 10 PCT
KUALA LUMPUR, Oct 7 (Bernama) -- Malaysia's herbal industry is expected to grow at 10 percent per annum, said Deputy Finance Minister Kong Cho Ha.
"As of 2007, the industry was estimated to be worth about RM8 billion,"
(US$2.35 billion) he told a media briefing on the 2nd Global Bio-Herbs Economic
Forum 2008 (GBHEF 2008) here Tuesday.
Malaysia will host the GBHEF 2008 from Nov 15-17.
Kong said the government has also targeted the herbal industry to be
another growth sector after information and communications technology.
Elaborating on the herbal industry, he said that Malaysia's ethnic
communities have brought about a unique confluence of traditional medicine where
herbal remedies were sourced from the country's rich rainforest.
"Using biotechnology, we are able to unlock the country's diverse wealth of
herbal plants by extracting their medicinal properties and commercialising
them," he explained.
Kong said that the biotech sector is projected to contribute about five
percent to the nation's gross domestic product by 2020.
"To date, the industry has already attracted RM1.3 billion (US$0.38
billion) in investments," he said.
He said although the industry was still at its infancy stage, the
government was undeterred and would forge ahead to make the country an important
biotech hub in Asia-Pacific.
He said that the government has made serious effort to promote and develop
biotech and among the main focus of the National Biotechnology Policy is the
development of bio-pharmaceutical and bio-medical products which will
provide an impetus for further development of the herbal industry.
Kong said the GBHEF 2008 would provide a platform for the country to
explore the vast potential of the global herbal industry.
Meanwhile, secretary general of the GBHEF council, Prof Dr Mohd Azmi Mohd
Lila, said the forum was expected to attract more than 3,000 participants from
various countries and would have 80 booths which will showcase the latest health
products from around the world.
The inaugural GBHEF was held at Dalian, China last year.
"The main objective of the forum is to nurture and accelerate the Asian
bio-herbs industry," he said.
Dr Mohd Azmi said the council would organise activities to nurture and
accelerate the growth of the bio-herbs industry as well as establish business
opportunities for herbalpreneurs.
"As of 2007, the industry was estimated to be worth about RM8 billion,"
(US$2.35 billion) he told a media briefing on the 2nd Global Bio-Herbs Economic
Forum 2008 (GBHEF 2008) here Tuesday.
Malaysia will host the GBHEF 2008 from Nov 15-17.
Kong said the government has also targeted the herbal industry to be
another growth sector after information and communications technology.
Elaborating on the herbal industry, he said that Malaysia's ethnic
communities have brought about a unique confluence of traditional medicine where
herbal remedies were sourced from the country's rich rainforest.
"Using biotechnology, we are able to unlock the country's diverse wealth of
herbal plants by extracting their medicinal properties and commercialising
them," he explained.
Kong said that the biotech sector is projected to contribute about five
percent to the nation's gross domestic product by 2020.
"To date, the industry has already attracted RM1.3 billion (US$0.38
billion) in investments," he said.
He said although the industry was still at its infancy stage, the
government was undeterred and would forge ahead to make the country an important
biotech hub in Asia-Pacific.
He said that the government has made serious effort to promote and develop
biotech and among the main focus of the National Biotechnology Policy is the
development of bio-pharmaceutical and bio-medical products which will
provide an impetus for further development of the herbal industry.
Kong said the GBHEF 2008 would provide a platform for the country to
explore the vast potential of the global herbal industry.
Meanwhile, secretary general of the GBHEF council, Prof Dr Mohd Azmi Mohd
Lila, said the forum was expected to attract more than 3,000 participants from
various countries and would have 80 booths which will showcase the latest health
products from around the world.
The inaugural GBHEF was held at Dalian, China last year.
"The main objective of the forum is to nurture and accelerate the Asian
bio-herbs industry," he said.
Dr Mohd Azmi said the council would organise activities to nurture and
accelerate the growth of the bio-herbs industry as well as establish business
opportunities for herbalpreneurs.
