Kuala Lumpur, 29 November 2023 – Malaysia Industrial Development Finance Berhad (MIDF), in collaboration with the Malaysian Investment Development Authority (MIDA) and Bizsphere Sdn. Bhd. (Bizsphere), successfully organised the Malaysia Smart Manufacturing Award 2023 Biz Talk & Forum titled Tech Up for Smart Manufacturing. Hosted by MIDA at MIDA Sentral, the event served as a pivotal gathering for industry leaders, experts, and stakeholders to delve into the essence of Mission 2 of the New Industrial Master Plan 2023: “Tech Up for a Digitally Vibrant Nation”.
The distinguished panel featured Professor Dr. Ong Kian Ming, a Board Member of MIDA and Director of the Philosophy Politics and Economics Programme at Taylor’s University, along with Mr. Jacob Lee, Vice President of the Federation of Malaysian Manufacturers (FMM), and Chairman for Industry 4.0 and Digital Economy Working Committee of FMM. Moderated by Mr. Yap Keng Teck, Managing Consultant of Bizsphere, the forum extensively explored Mission 2’s core elements, emphasising technology integration to elevate Malaysia’s industrial landscape.
Tan Sri Dato’ Seri Dr. Sulaiman Mahbob, Chairman of MIDA, expressed in his speech, “Mission 2 aims to drive digitalisation, enhance labour productivity, support R&D for higher-value products, and bolster supply chain resilience. Recognising the dynamic nature of the future of manufacturing, strengthening partnerships within the local manufacturing ecosystem is imperative. As global companies anchor advanced manufacturing in Malaysia, local enterprises leveraging advanced technologies will become globally competitive, and creating exciting, quality jobs. Innovation, R&D, specialised technology, and high-productivity processes form the foundation, propelling industries forward. Equally vital is keeping our workforce adaptable and skilled.”
In a statement, Mr. Azizi Hj Mustafa, Chief Executive Officer of MIDF, emphasised MIDF’s commitment as a development finance institution under the Ministry of Investment, Trade and Industry (MITI) to support local businesses in their growth journey and adoption of technology to enhance productivity and efficiency. He said, “MIDF is dedicated to providing financial solutions that empower businesses to embrace technology at a very competitive financing rate. In an era where digital transformation is pivotal, we stand firm in our support of local enterprises venturing into smart manufacturing practices”.
He further encouraged companies that have successfully integrated technology and automation into their operations to participate in the Malaysia Smart Manufacturing Award. “These companies can serve as role models and inspire others, especially SMEs, to embark on their journey toward Industry 4.0. By recognising and celebrating these achievements, we aim to create a ripple effect, fostering a culture of innovation and technological advancement in Malaysia’s business landscape,” he added.
A significant highlight of the event was the comprehensive briefing on the Malaysia Smart Manufacturing Award by Mr. Yap Keng Teck, outlining its aim to celebrate industry leaders, innovators, and organisations contributing to smart manufacturing practices. The award aligns with Malaysia’s commitment to fostering a competitive and resilient manufacturing ecosystem, targeting the goal of transforming 3,000 smart factories in Malaysia by 2030, as outlined in the New Industrial Master Plan (NIMP) 2030.
Moreover, MIDA seized the opportunity to showcase the Smart Automation Grant (SAG) MADANI, aligning this initiative with the broader mission of fostering smart manufacturing practices across the country. Concurrently, MIDF offered valuable insights into government financial assistance programmes, aiding businesses in their adoption of cutting-edge technologies.
Throughout the year, MIDF and Bizsphere organised MIDF Automation and Digital Forums in six (6) regions nationwide, garnering enthusiastic responses from industry players and encouraging exploration of automation and digitalisation in business operations. As Malaysia continues its journey to become a digitally vibrant nation, events like the Malaysia Smart Manufacturing Award 2023 Biz Talk & Forum assume a crucial role in shaping the future of the nation’s industrial landscape.
MIDA is the government’s principal investment promotion and development agency under the Ministry of Investment, 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 21 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 X, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.
The MIDF group carries out investment banking, development finance and asset management. It serves entrepreneurs as well as large corporations and institutions.
Malayan Industrial Development Finance Ltd (now MIDF) was established in 1960 following the recommendations of the World Bank on how to finance the industrialisation of Malaya, and over the last 62 years, the MIDF Group has been part of the development and modernisation of Malaysia’s economy and capital markets.
MIDF is a member of Malaysia Building Society Berhad (MBSB) Group. MBSB is also the financial holding company of MBSB Bank Berhad (MBSB Bank).