KUALA LUMPUR: The Ministry of International Trade and Industry (MITI) and its agencies are organising a webinar “The Road Ahead with Industry4WRD” to improve the local business community’s awareness on Industry 4.0 (I4.0) or Industry4WRD.
To be held for one day on May 4 and officiated by Deputy Minister Datuk Lim Ban Hong, the webinar will feature not only understanding on I4.0 but also initiatives to facilitate companies’ adoption of I4.0 by the government.
Set to attract over 200 industry players, the event also aims to promote MITI’s Industry4WRD Readiness Assessment (RA) and Intervention Fund (IF) programmes under the 12th Malaysia Plan (12MP), 2021-2025.
“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,” MITI said in statement.
It said SMEs which have undergone the Industry4WRD RA programme will receive a report detailing their readiness and recommendations to migrate to I4.0. They 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 five years implementation under the 12MP.
“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,” MITI said.
Among agencies involved in the event are the Malaysia Productivity Corp, Malaysian Investment Development Authority, SIRIM Bhd, MIMOS Malaysia, Federation of Malaysian Manufacturers and SME Association.
Interested SMEs can register for the webinar at https://zoom.us/webinar/register/WN_twZ1ofk5QoyqjC6VxHf2UQ or visit www.miti.gov.my. — Bernama