Companies to Leverage on Facilities Provided, Particularly in Industry 4.0 Ventures
KOTA KINABALU, Dec 7 (Bernama) --
“The Government is now aggressively undertaking various efforts to assist industry players in embracing Industry 4.0 through the adoption of automation and smart manufacturing. As the champion for Industry 4.0 and smart manufacturing, MITI and MIDA are heavily involved in formulating strategies and conducting related research such as the “Future of Manufacturing” Study on the 3+2 catalytic and high growth potential sectors identified under the 11th Malaysia Plan and the National Plan for Industry 4.0. We are pleased to share that both documents are expected to be completed by the first quarter of 2018,” said Mr. Zabidi Mahbar, Executive Director, Strategic Planning (Manufacturing) of the Malaysian Investment Development Authority (MIDA) in his address during the East Malaysia Domestic Investment Seminar held today.
“Since 2015, the Government has provided a facility in the form of Automation Capital Allowance for automation expenditure to assist manufacturing companies in embracing this new concept. As at October 2017, MIDA has approved a total of 71 applications of which 2 applications approved were from Sabah. In the recent Budget 2018, the Government has announced several new incentive packages in this space, underscoring our commitment to accelerate the growth and adoption of smart manufacturing and Industry 4.0 in Malaysia. With these facilities in place, we would like to encourage more companies to adopt smart manufacturing technologies and processes that will in return serve them well by reducing dependency on foreign labour, improve productivity and enhance their long term competitiveness” added Mr. Zabidi.
As the principal investment promotion agency of Malaysia, MIDA seeks to attract quality investments that have many spillover effects towards generating greater prosperity for Malaysians. Sabah is certainly one of the recipients of such investments. As at December 2016, a total of 757 manufacturing projects with investments worth RM19.7 billion have been implemented in the state. More than 91,000 Sabahan have benefitted from these projects through employment. Despite the challenging global environment, Sabah continues to attract additional approved investments this year worth more than RM400.0 million in the services sector particularly the hotel & tourism, energy generation & conservation projects as well as in the manufacturing sector in the first half of 2017.
“We know that a comprehensive ecosystem will be a natural magnet for investments. With that in mind, the Government continues to undertake concerted efforts to put in place the required enablers that will support investors in doing their business in this country. We are optimistic that the latest infrastructure development project i.e. the Pan Borneo Highway will be an impetus to attract more quality investments into East Malaysia, particularly in the targeted sectors such as petroleum products, chemical and chemical products, oil & gas, building materials, food manufacturing, furniture, tourism and agriculture,” concluded Mr. Zabidi.
More than 200 industry players attended the one-day programme which was part of MIDA’s continuous efforts to update the industry players especially in East Malaysia on the latest policies and facilities that are available. It featured two plenary sessions moderated by Federation of Malaysian Manufacturers (FMM) and Persatuan Usahawan Maju Malaysia (PUMM) and key speakers from MIDA, Malaysia External Trade Development Corporation (MATRADE), SME Corporation Malaysia (SME Corp), Halal Industry Development Corporation (HDC), Small Medium Enterprise Development Bank Malaysia (SME Bank), Malaysian Industrial Development Finance (MIDF), and Credit Guarantee Corporation (CGC). The event also featured business clinic sessions that enabled participants to engage and obtain direct consultations with various agencies at both federal and state levels.
Welcoming Remarks by Mr. Zabidi Mahbar, Executive Director,MIDA>>http://bit.ly/2kvw96FSOURCE : Malaysian Investment Development Authority FOR MORE INFORMATION, PLEASE CONTACT:
Name : Mr. Ahmad Tajudin Omar
Director, Domestic Investment Division, MIDA
Tel.: 03-2267 3627