MIDA Inks MOU with SIRIM Tech to Enhance Technology Adaption Among Industries in Malaysia
KUALA LUMPUR, 6 September 2021 – The Malaysian Investment Development Authority (MIDA) inks a Memorandum of Understanding (MoU) with SIRIM Tech Venture Sdn Bhd (STV) to enhance technology adaption within the domestic investment landscape in Malaysia. The virtual signing between Mr. Sivasuriyamoorthy Sundara Raja, Deputy Chief Executive Officer, Investment Promotion and Facilitation of MIDA and Mr. Ajmain Kasim Chief Executive Officer of SIRIM Tech Venture is seen as a significant milestone in the Government’s efforts to encourage industry players particularly domestic players and SMEs to step up into new technology and move towards implementing Industry 4WRD initiatives in their business processes.
Mr. Arham Abdul Rahman, Chief Executive Officer (CEO) of MIDA expressed in his opening remarks, “We welcome SIRIM Tech Venture (or STV), a wholly owned commercialisation arm of SIRIM, to work closely with MIDA’s Domestic Investment Coordination Platform (DICP) in identifying and matching companies to adopt new production solutions. As we can attest to, the COVID-19 pandemic has invoked unprecedented disruptions and transformed the global economy landscape into the new norms, where companies need to re-evaluate their business models, embark on Industry 4.0 transformation and digitalisation to remain relevant in the market”.
“With huge presence of foreign investment projects in Malaysia, it is significantly important for the domestic industry players to be tech savvy in contributing within the supply chain network and meet the expectations of their clients. STV is ready to provide technology transfer training, technology consultation and evaluation services by Certified STV analysts to industry players including domestic companies to adopt new models, higher level of efficiency and productivity”, Mr. Arham added.
MIDA’s DICP team has so far, successfully linked three local companies to STV to initiate:
- Technical collaboration of a Virtual Pipeline System (VPS) in energy gas distribution for a bio-energy hub to monetise agricultural and industrial waste; while conducting pilot tests on the production of Bio Natural Gas (BioNG) from existing biogas power plants;
- Orchard Management and Integrated Tracking System for durian harvesting and processed products; and
- Technical advisory on renewable energy solutions on municipal solid waste, agriculture waste and livestock waste.
The presence of technical institutions such as SIRIM will certainly boost the support for companies’ technology adoption and technology expertise to progress into global outreach. Strategic collaborations contribute to the National Investment Aspirations (NIA) that foster innovation and sophistication, encourage sustained flow of quality investments in new and complex growth areas, create greater job opportunities and improve income prospects.
MIDA hopes the MOU would pave further feats for both parties to promote Malaysia’s technical expertise and to ensure easy access for the domestic companies to technology providers in their desire for higher efficiency and new business models. As a trusted business partner to investors, MIDA continues to facilitate domestic business networks.
MIDA is the Government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube channel
For more information, please contact :
Mr. Sukri Abu Bakar
Director, Domestic Investment and Supply Chain Coordination Division
03-2267 3685 | [email protected]