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Miti aims for 450 SMEs to undergo RA this year

20 Jan 2020 / 14:09 H.

KUALA LUMPUR: The Ministry of International Trade and Industry (MITI) is targeting 450 small and medium enterprises (SMEs) to undergo the government-funded National Policy on Industry 4.0 (Industry4WRD) Readiness Assessment (RA) programme this year.

Last year, 508 SMEs were selected to undergo the programme, out of 849 applications.

Deputy minister Dr Ong Kian Ming (pix) said the programme aims to help SMEs assess their readiness for Industry 4.0.

“The government has allocated RM43 million for Industry4WRD-related programmes including the RA, Intervention Fund, Train the Trainers, Reskilling Programme and High-Speed Broadband,” he told reporters after officiating the Seminar on Industry4WRD Incentives today.

The one-day seminar aimed to increase industry’s awareness on Industry4WRD-related programmes and incentives by the government, such as the RA, Intervention Fund, Domestic Investment Strategic Fund and Automation Capital Allowance.

Ong said upon completion of the RA, SMEs are encouraged to apply for the Industry4WRD Intervention Fund from the Malaysian Investment Development Authority.

The fund offers a 70:30 matching grant of up to RM500,000 for SMEs to implement intervention strategies recommended in their respective RA reports.

Companies are encouraged to apply for the RA via MITI’s website, http://www.miti.gov.my/industry4wrd to start their transformation journey on Industry 4.0 adoption. - Bernama

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