The order contains a framework on how the U.S. can develop a diverse and skilled workforce equipped to create bio-based products with the help of naturally occurring processes.
President Biden’s order comes in light of the concerns that the U.S. intelligence and national security officers have about the country’s reliance on China for certain medicines and chemicals. The executive order was signed on September 12 after which the President gave a speech in Boston.
The White House is also said to hold a summit on September 14. At the summit, announcements will be made about new investments in development and production capacities and domestic research.
Although the U.S. has one of the world’s leading biotechnology industries, some high-tech production has still moved out of the country. The Covid-19 pandemic was especially significant in creating a sense of urgency when it came to forming a clear and coherent industrial plan, said sources. These sources have refused to be identified as the matters have not been made public yet.
“Global industry is on the brink of an industrial revolution fueled by biotechnology. We have relied too heavily on foreign materials and bio-production. Our past off-shoring of critical industries, including biotechnology, has threatened our ability to acquire materials such as important chemicals and active pharmaceutical ingredients,” said the White House.
The order contains a framework on how the U.S. can develop a diverse and skilled workforce equipped to create bio-based products with the help of naturally occurring processes.
According to a White House statement, the goal of the National Biotechnology and Bio-manufacturing Initiative will be to lower prices, boost the supply chain and create new jobs in the sector. The goal is not just limited to making strides in the healthcare field but also to expand bio-manufacturing in industries like energy and agriculture.
Moreover, the government plans to support bio-manufacturing infrastructure in the country, however, the executive order does not mention how much funding will be made available for this initiative.The aim of this move is to half the deaths by cancer within the next 25 years.
The President also signed another executive order this past August to increase local semiconductor manufacturing. This was part of the country’s efforts to shift the balance in the favor of the U.S. in its competition with China.
China is also making similar efforts to bolster its bio-economic development. In May, China’s National Development and Reform Commission issued a five-year plan for this purpose which described measures to bring about growth in the sectors of health care, fuel, and agriculture. Due to increasing tensions between the two countries, the Biden government is also looking for ways to cut investment in Chinese industries.
