Today President Luiz Inácio Lula da Silva signed a decree that creates the National Committee for Biotechnology and outlines a national policy for the sector. The goal is to activate the economic, social and environmental potential of the 200 thousand species of plants, animals and microorganisms registered in the country. Brazil is home to one fifth of the world's biodiversity.

The government plans to invest 10 billion reais (£2.43 billion) in biotechnology over the next 10 years. Funding is expected from public and private investment. The government will contribute 60 percent, including funds from the Brazilian Development Bank (BNDES), and the rest will be provided by the private sector. The main areas to receive the investments will be health, agriculture, industry and environment.

Source: Agência Brasil and Embassy of Brazil in London