Bioeconomy and Cosmetic Valley to develop Langkawi Cosmetic Island in Malaysia

Malaysian Bioeconomy Development Corp (Bioeconomy Corp) has signed an agreement with France-based Cosmetic Valley to develop a MYR500m ($122m) herbal, cosmetics and perfumery cluster model in Langkawi, Kedah.

The cluster model, known as Langkawi Cosmetic Island (LCI), will be developed in three phases.

LCI will come up on a 300ha site in Ulu Melaka and its complete development is expected to be finished in the next five years.

Bioeconomy Corp chief executive officer Datuk Dr Mohd Nazlee Kamal was quoted by New Straits Times Online as saying: "The first phase of this development will kick off sometime in December."

LCI will accommodate facilities that will serve formulation, product development, production and packaging of herbal, cosmetics and perfumes.

This move is expected to create around 6,000 jobs.

Nazlee added: "This has the potential to catalyse new economic expansion and increase revenue streams for Kedah, further boosting bioeconomy growth in the state."

The agreement will lead to collaboration between for Malaysian and French firms to facilitate research and development.