KUALA LUMPUR: The blueprint to drive the third national car project will be presented to Prime Minister Tun Dr Mahathir Mohamad in two weeks.
Entrepreneur Development Minister Datuk Seri Mohd Redzuan Md Yusof said once ready, the blueprint would then be submitted to the Cabinet for approval.
He said a deadline for the vendor development programme application submissions would also be established, once the blueprint is completed.
More than 50 local vendors have submitted their applications to the ministry.
“The third national car project will be what the market wants. Cars nowadays are like gadgets, looking at the technology. So, we are shaping the car based on our capabilities and environment provided by the world in terms of technology and application,” he said at the Federation of Malaysian Manufacturers (FMM) SME Conference 2018 on Monday.
Mohd Redzuan said the establishment of the new car project will be among the drivers to boost the contribution of the manufacturing sector in Malaysia.
He said small and medium enterprises (SMEs), which form the backbone of the economy, are highly concentrated in the services sector, accounting for 89.2 per cent of SME establishments.
SME participation in manufacturing, however, is low at 5.3 per cent.
“We need the manufacturing sector to spin off the services sector. Hence, there is a need to upgrade and graduate the micro and small players to become medium enterprises,” he said.
Out of a total of 907,065 SMEs in Malaysia, 76.5 per cent are micro players, 21.2 per cent are small-sized while the remaining 2.3 per cent are medium-sized enterprises.
FMM President Datuk Soh Thian Lai said there is a strong need for SMEs to re-engineer their operations by embracing Industry Revolution 4.0 technology.
The government recently announced three significant game-changing plans – the 2019 Budget, the mid-term review of the 11th Malaysia Plan, and the National Policy on Industry 4.0.
“We certainly need to digest these development plans closely. We hope to receive clearer directions and details through the implementation of various programmes and initiatives,” Soh said.
He also stressed the need to support the manufacturing sector by ensuring a business-friendly operating and investment environment. — Bernama