MITI identifying 500 SMEs for Industry 4.0 technology transition

Borneopost Thu, Nov 15, 2018 12:47am - 5 years View Original


KUALA LUMPUR: The Ministry of International Trade and Industry (MITI) is identifying 500 small and medium enterprises (SMEs) to be placed under the fourth industrial revolution 4.0 (Industry 4.0) Readiness Assessment programme.

Senior director of Investment Policy and Trade Facilitation Faizal Mohd Yusof said RM210 million would be allocated under programme, which was announced in the 2019 Budget, to encourage transition of businesses to Industry 4.0 technology from 2019 to 2021.

“The guidelines for the programme will be based on a pilot test on 22 companies and will be rolled out next year,” he told reporters at the seventh Stratum Focus Series forum here yesterday.

He said the programme would enable the ministry to gauge the level of readiness of the SMEs towards Industry 4.0 technology adoption.

“It enables us to know at what stage they (SME) are now and where the government could intervene with funding or incentives, as well as which direction to move into,” he said.

Pemandu Associates Sdn Bhd executive vice-president Yong Yoon Kit said the initiative showed that the government recognised the importance of Industry 4.0 and its impact on the gross domestic product.

However, he said for the Industry 4.0 technology adoption to happen, companies needed to understand the technology and be committed to change, as well as be prepared to make an significant investment.

“The commitment must be from the management all the way down to the workers and the process of managing this change is crucial,” he said.

Malaysia Automotive Institute chairman Datuk Phang Ah Tong said it was a good move for the country to assess SMEs’ readiness towards Industry 4.0.

“lndustry 4.0 is highly technical. You need a strong support of talent and your workforce must also be ready for it,” he said.

He added that the programme could also identify the types of industries that were ready to adopt Industry 4.0 technology.

Organised by Bursa Malaysia Bhd and Hong Leong Investment Bank with the theme ‘Industry 4.0: Humanising Machines, Disrupting Economies’, the forum was attended by 100 participants from the investment community and various industries impacted by Industry 4.0. — Bernama

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