Wednesday, October 27

Malaysia eager to be early mover of IR 4.0


KUALA LUMPUR: Malaysia is eager to be an early mover of the fourth industrial revolution (IR 4.0), with the Malaysian Investment Development Authority (MIDA) actively encouraging companies to jump start their digital transformation.

MIDA said this was especially important due to the high rate of changes, innovation and uncertainty that exist with any emerging technologies and industry models.

“Measures have also been taken to support the development of an agile and skilled workforce capable of supporting businesses in this rapidly evolving environment,” MIDA said in its Malaysia Investment Performance 2018 Report released recently.

In its stride to help businesses and stakeholders prepare for and uptake IR 4.0, MIDA has been organising various awareness programmes such as seminars, pocket talks and business-to-business meetings over the years.

“Through these, MIDA aims to enlighten companies, academia and the general public on the opportunities and challenges presented by IR 4.0, as well as the available facilities that can be utilised by companies looking to adopt IR 4.0 technologies,” it said.

The year 2018 marked a significant stage in the country’s automation journey, as it launched Malaysia’s Industry4WRD – the national policy on IR 4.0.

Released on Oct 31, 2018, the framework outlines broad strategies and action plans covering financing, infrastructure, regulations, skills, and technology to be implemented by ministries and agencies, in collaboration with industry, towards realising the nation’s modernisation agenda, said MIDA.

“Going forward, Malaysia will intensify efforts to implement these strategies in order to ramp up IR 4.0 uptake among companies – in particular, small and medium enterprises.

“By doing so, the government hopes that industries will undergo a natural progressive transformation, boosting Malaysia as a key player on the world stage,” it said. — Bernama