MITI approves 711 applications for RA programme as of Oct 2020 - MIDA | Malaysian Investment Development Authority
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MITI approves 711 applications for RA programme as of Oct 2020

MITI approves 711 applications for RA programme as of Oct 2020

12 Nov 2020

The Ministry of International Trade and Industry (MITI) has approved 711 out of 1,205 applications from companies for the Industry4WRD Readiness Assessment (Industry4WRD RA) programme as of October 2020.

MITI said the Industry4WRD RA is a comprehensive programme to assist firms to assess their capabilities and readiness to adopt Industry 4.0 (IR 4.0) technologies and processes.

Companies that have completed the programme would have the opportunity to participate in the Intervention Programme, which offers the Industry4WRD Intervention Fund, a financial support facility for IR 4.0 technology adoption by Malaysian small and medium enterprises (SMEs).

The Industry4WRD Intervention Fund will be provided on a 70:30 matching basis; where 70 per cent of the cost of technological adoption will be borne by the government up to a maximum grant of RM500,000, while the balance will be borne by the company.

“As of October 2020, 41 companies have been approved for the grant,” MITI said in a written reply in Dewan Rakyat today.

The ministry was replying to a question from Datuk Seri Abdul Hadi Awang (PAS-Marang) on the extent of the National Policy on IR 4.0’s (Industry4WRD) capability in meeting challenges and the preparedness in facing the digital economy era.

MITI said the transition to IR 4.0 would increase demand for highly skilled workforce based on IR 4.0 technology and reduce dependency on foreign labourers.

“Among the initiatives that are being implemented include specially designed programmes emphasising IR 4.0 technology skills required by the industry for the purpose of upskilling and reskilling existing workforce.

“This initiative will also ensure the availability of future talents through the strengthening of education on the latest IR 4.0 skills via the improvement of the Center of Excellence which provides training and learning on IR 4.0 technologies,” it said.

It said the application of IR 4.0 technologies would also provide a safe working environment.

On another note, MITI said that the National e-Commerce Strategic Roadmap 2016-2020 was designed to develop the country’s e-commerce ecosystem, boosting the local e-commerce industry’s potential towards contributing to the country’s economic growth.

Source: Bernama Posted on : 12 November 2020