MITI encourages industry players to adopt I4.0 technologies
1 May 2021 – Malaysian business community is encouraged to adopt I4.0 technologies and processes to remain relevant in the future.
MITI in its statement today stated that, to improve the business community’s awareness on I4.0, MITI through its agencies Malaysia Productivity Centre (MPC), Malaysian Investment Development Authority (MIDA) and SIRIM Berhad as well as MIMOS Malaysia, Federation of Malaysian Manufacturers (FMM), and SME Association are organizing a webinar entitled The Road Ahead with Industry4WRD on 4 May 2021. The webinar will be officiated by Deputy Minister of International Trade and Industry, Datuk Lim Ban Hong.
Set to attract over 200 industry players, the event aims to promote MITI’s Industry4WRD Readiness Assessment (RA) and Intervention Fund (IF) programmes under the Twelfth Malaysia Plan, 2021-2025. The webinar will feature topics on the basics of I4.0 and initiatives by the Government to facilitate companies’ adoption of I4.0.
“Industry4WRD RA is a comprehensive programme to help SMEs assess their capabilities and readiness to adopt I4.0 technologies and processes, by using a pre-determined set of indicators to understand their present capabilities and gaps. Through the programme, Small and Medium Enterprises (SMEs) will be assessed based on the three shift factors crucial to Industry 4.0 namely people, process and technology.
SMEs which have undergone Industry4WRD RA programme will receive a report detailing their readiness and recommendations to migrate to I4.0. SMEs can then avail themselves to the Industry4WRD Intervention Fund – a matching grant with a maximum amount of RM500,000 with upfront of 30 per cent given by the Government to kick start their companies intervention strategies towards I4.0 adoption. SMEs can also apply for other incentives such as Domestic Investment Strategic Fund and High Impact Fund to facilitate their I4.0 migration plan.
For continuous implementation of I4.0-related initiatives, the Government has approved a ceiling allocation of RM100 million on RA and IF for the next 5 years implementation under the Twelfth Malaysia Plan. With a budget of RM50 million allocated under Budget 2021 and PEMERKASA, the Government will support and assist more SMEs in their digital I4.0 transformation journey and upscale the industry particularly SMEs to remain competitive by capturing the benefits of disruptive technologies and innovation.” said MITI.
The ministry also added that they are committed to building a holistic ecosystem for our manufacturing and its related services sector, through the implementation of various initiatives under the Industry4WRD Policy. SMEs will be given the priority as I4.0 developments can catalyze long-term enhancements on their operations through the adoption of new technologies and innovations. This is essential to expedite the recovery of SMEs due to the COVID-19 pandemic and ultimately strengthen their resiliency.
For those keen to take part in the webinar they can secure their spot by registering on https://zoom.us/webinar/register/WN_twZ1ofk5QoyqjC6VxHf2UQ or visit www.miti.gov.my .