NEW YORK, May 20 - The Prime Minister of Malaysia today officiated at the ground-breaking ceremony for
The facilities in the BioValley, located south of
The Malaysian government has pledged to invest 100 million ringgit, ($26.3 million) in the initial infrastructure development phase, Channelnewsasia.com reported earlier today.
BioValley, which was first conceived in 2001, is being built in the country's economically troubled Multimedia Super Corridor, a high-technology area launched in the 1980s. With the MSC, the new high-tech biotech area is to be renamed the Biotechnology and Information Technology Super Corridor, or BITS. This new move has been regarded as an effort to rescue the MSC and compete with other similar initiatives in Korea, Japan, Singapore, and China.
Malaysian Prime Minister Dato Seri Dr Mahathir Mohamad has chaired the committee to push the BioValley plans forward.