The Malaysian Investment Development Authority (MIDA) organised a live webinar session with the National Chamber of Commerce and Industry of Malaysia (NCCIM) on 21 May 2020. The session, which featured a keynote address by Dato’ Azman Mahmud, CEO of MIDA was joined by Tan Sri Datuk Ter Leong Yap, President, NCCIM; Dato’ Low Kian Chuan, Secretary General NCCIM; Mr Tan Weng Hock, Managing DirectorMalaysia, United BC Team Sdn. Bhd. (UBCT); Mr. Mohd Shazlan Bin Mohd Anwar, Group Managing Director, Virtual Instrument and System Innovation Sdn. Bhd. (VISI).
The webinar discussed on matters relating to the impact of COVID-19 and the Movement Control Order (MCO) on the economy, as well as the measures and support undertaken by the Government to mitigate the adverse impact of the pandemic.
According to Dato’ Azman, “As we now have moved into the next phase, it is time to Reboot, Restart and Revitalise our economy post COVID-19. To reduce the economic impact of COVID-19 and sustain businesses, the Government continuously seeks new approaches and strategies to facilitate the growth and competitiveness of local companies, particularly SMEs, in the domestic arena and global markets”.
The Government, through MIDA, has also provided more opportunities for companies to move towards digitalisation or Industry 4.0 through various initiatives, particularly for the SMEs. MIDA encourages SMEs to tap into MIDA’s Domestic Investment Coordination Platform (DICP) which provides the missinglink between businesses, funding technology and research capability. Some companies require capital injection for expansion, structured financing for new projects, joint venture partners or merger and acquisition. During the webinar session, Dato’ Azman launched the latest MIDA’s initiative, namely the Malaysia’s Lighthouse Project, and invite local companies to be onboard in integrating themselves in these lighthouse operations.
The Lighthouse Project consists of industry players that have taken Smart Manufacturing technology from pilot to integration at scale, thus achieving significant financial and operational benefits. The term “lighthouse” denotes that these factories can act as beacons to guide their supply chain and others that are still looking to apply technologies such as artificial intelligence, additive manufacturing and advanced analytics as well as overcoming challenges in upgrading existing production systems.
This also forms part of MIDA’s continuous effort in driving the initiatives of Malaysia’s national policy on Industry 4.0, into reality. The full video is accessible at: https://www.facebook.com/456109417812491/posts/2945078155582259/