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MITI to organise ‘The Road Ahead with Industry4WRD’ webinar for SMEs

MITI to organise ‘The Road Ahead with Industry4WRD’ webinar for SMEs

01 May 2021

The Ministry of International Trade and Industry (MITI) and its agencies are organising a webinar titled “The Road Ahead with Industry4WRD” to improve the local business community’s awareness of Industry 4.0 (IR 4.0) 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 of IR 4.0 but also initiatives to facilitate companies’ adoption of IR 4.0 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 (small and medium enterprises) assess their capabilities and readiness to adopt IR 4.0 technologies and processes by using a predetermined set of indicators to understand their present capabilities and gaps.

“Through the programme, SMEs will be assessed based on the three shift factors crucial to Industry 4.0, namely people, process and technology,” MITI said in a statement.

It said SMEs that have undergone the Industry4WRD RA programme will receive a report detailing their readiness and recommendations to migrate to IR 4.0.

They can then avail themselves to the Industry4WRD Intervention Fund, a matching grant with a maximum amount of RM500,000 and an upfront of 30% given by the government to kick-start their companies’ intervention strategies towards IR 4.0 adoption.

SMEs can also apply for other incentives, such as the Domestic Investment Strategic Fund and High Impact Fund, to facilitate their IR 4.0 migration plan.

“For continuous implementation of IR 4.0-related initiatives, the government has approved a ceiling allocation of RM100 million on the 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 IR 4.0 transformation journey and upscale the industry, particularly for SMEs, to remain competitive by capturing the benefits of disruptive technologies and innovation,” MITI said.

Among agencies involved in the event are Malaysia Productivity Corp, the Malaysian Investment Development Authority (MIDA), SIRIM Bhd, MIMOS Bhd, the Federation of Malaysian Manufacturers and the SME Association.

Interested SMEs can register for the webinar at https://zoom.us/webinar/register/WN_twZ1ofk5QoyqjC6VxHf2UQ or visit www.miti.gov.my.

Source: Bernama