Malaysia Debt Ventures Plans To Fund Biotech Projects

Filed in archive Biotech Hubs and Facilities , Corporate and Industrial News on April 20, 2006

Previously, they fund information technology (IT) and high-growth sectors. Now, managing director and CEO Md Zubir Ansori Yahaya announced that MALAYSIA Debt Ventures Bhd (MDV) also plans to finance biotechnology projects.

"We expect to start providing the funds for biotechnology projects in the first quarter next year," he told reporters after signing of a collaborative agreement between MDV and Technopreneurs Association of Malaysia (TeAM) in Kuala Lumpur yesterday.

MDV is still seeking permision form the government to allocate funds for the biotech industry, but this seems a good affirmation that Malaysia intends to be one of the emerging biotech hubs in Asia. Read the full report from Business Times Malaysia.

[Photo: BT Malaysia]