KUALA LUMPUR: VentureTECH Sdn Bhd has signed investment agreements with Hanan Medicare Sdn Bhd and AgriData Portal Sdn Bhd to strengthen local pharmaceutical manufacturing and support technology-driven agriculture, as the government seeks to develop higher-value industries.
Deputy Economy Minister Datuk Mohd Shahar Abdullah said the agreements should be measured not just by the capital invested, but by their ability to build domestic capabilities.
“Success is not merely about the amount of capital invested, but the new value and capabilities we manage to build for the country’s economy,” he said in his keynote address at the event today.
Mohd Sahar said Malaysia needed to move towards an economy driven increasingly by technology, knowledge and innovation, rather than relying primarily on its ability to produce goods at competitive costs.
“We also need to have the capability to develop technology, create added value and command markets,” he said.
Mohd Shahar said the 13th Malaysia Plan provided a framework for improving productivity and competitiveness, particularly through the development of high-growth, high-value industries.
Malaysia’s economy expanded 6% in the second quarter of this year, while growth for the first half of 2026 stood at 5.7%, he said.
Approved investments recorded by the Malaysian Investment Development Authority between January and June 2026 amounted to RM218.5 billion, involving 2,746 projects expected to generate 99,030 job opportunities.
“We want to be more than just an investment destination. We want to become a country capable of creating and commanding value from the investments we receive,” said Mohd Sahar.
In healthcare, he said local manufacturing of biosimilars, including insulin, could strengthen pharmaceutical expertise and improve medicine supply security.
“The development of local capabilities in biosimilar manufacturing, including insulin, can support the development of biotechnology and pharmaceutical expertise as well as strengthen the security of medicine supplies,” he added.
Mida has previously reported a planned RM194.9 million pharmaceutical manufacturing project by Hanan Medicare in Rawang, Selangor, involving biopharmaceuticals, small-volume injectables and other products, including insulin and anti-diabetic drugs. The investment agreement with VentureTECH does not, by itself, establish that VentureTECH will finance the entire project.
AgriData Portal represents VentureTECH’s first investment in Sabah, extending the investment company’s reach into the agriculture sector.
Mohd Shahar said AgriData’s technology-based approach had the potential to improve farmers’ productivity through better farm management, financing and market access.
“In the agricultural sector, the technology-based approach brought by AgriData Portal has the potential to help improve farmers’ productivity through better farm management, financing and market access,” he added.
AgriData’s business model combines agricultural support with market connections and financing initiatives. Its platforms include AG-Market, which connects farmers with buyers, and Agri-Spark, which provides financing, tools and training to help farmers develop their operations.
Mohd Shahar said the agreements should help both companies strengthen their businesses, improve productivity and expand their markets.
“More importantly, we want to see local companies such as these develop into players capable of competing at regional and international levels, while contributing to the strengthening of the country’s industries,” he added.
He said the government’s “Made by Malaysia” aspiration should go beyond manufacturing products locally to developing and owning the technology, expertise and intellectual property behind them.
“Our aspiration is not merely for products to be made in Malaysia, but for the technology, expertise and value behind those products to also be developed and owned by Malaysians,” Mohd Shahar emphasised.
