MIDA Urges Industry Players in the Northern Region to Leverage on Facilities Provided by the Government 

SUNGAI PETANI, Kedah, Sept 14 (Bernama) --  "As Malaysia is a country that practices open economic policy due to the limited domestic market, industry players need to enhance their capabilities and competitiveness that will enable them to explore international market in the effort to expand their businesses. In facing the waves of Industry 4.0 which is happening globally, the Government is encouraging industries to embrace Industry 4.0 elements in their operations by shifting to the adoption of smart manufacturing technology, robotics and precision engineering to enhance their capabilities and competitiveness," said Mr. Zabidi Mahbar, Executive Director, Strategic Planning, Malaysian Investment Development Authority (MIDA) in his speech during the Northern Region Domestic Investment Seminar held today. The seminar, attended by more than 200 industry players, was officiated by YB Dato’ Wira Dr. Ku Abd. Rahman bin Ku Ismail, Member of Kedah State Executive Council. 

Companies in the Northern Region, especially those operating in Kedah are urged to leverage on the various facilities provided by the Government to enable them to shift to higher value chain. Citing the Domestic Investment Strategic Fund (DISF) as an example of a facility that can be utilised for this purpose, Mr. Zabidi added, "As of July 2017, MIDA has approved RM1.3 billion DISF grant for 264 projects with investments of RM12.8 billion. Of the total, 76 projects in Penang, 13 in Kedah, 10 in Perak and 1 in Perlis have received DISF grants with investments of RM5.2 billion. In addition, companies are also urged to utilise the Automation Capital Allowance scheme in transforming their operations. As of June 2017, only 41 applications have been approved by MIDA for this scheme”.

Moving forward, MIDA is now intensifying its efforts to provide a more conducive environment to develop and grow Industry 4.0 in Malaysia. This includes working together with High level Coordination Committee for Industry 4.0 under the Ministry of International Trade & Industry (MITI), Ministry of Higher Education (MOHE) and Ministry of Science Technology & Innovation (MOSTI) to formulate the National Policy on Industry 4.0 that is expected to be tabled at the Cabinet Meeting in the fourth quarter this year. Additionally, MIDA is also formulating special incentives for Industry 4.0 in line with the announcement made by the Minister of Finance.

The one-day seminar, organised by MIDA, is aimed at raising awareness among business communities on investment opportunities and facilities provided by the Government, as well as provide a platform for them to interact directly with various relevant institutions at federal and state levels. It covers the states in the Northern Region namely Kedah, Perlis, Perak and Penang. 

The seminar also featured plenary sessions with key speakers on business/ investment opportunities and facilities provided by various government agencies and financial institutions such as MIDA, MATRADE, SME Corp, HDC, MIDF, SME Bank and Maybank. Business clinic and consultations sessions were also arranged to be capitalised by industry players in getting advice directly the relevant agencies.
 
In 2016, MIDA has approved 733 manufacturing projects with investments of RM58.5 billion. Of these, the states in the Northern Region contributed RM10.4 billion or 18% of the total approved investments.

ABOUT MIDA
MIDA is the government's principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967 with a relatively small set up of 37 staff, MIDA has grown to become a strong and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 23 overseas offices. This year as the organisation celebrates its 50th anniversary, MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era.

SOURCE : Malaysian Investment Development Authority (MIDA) 

FOR MORE INFORMATION, PLEASE CONTACT: 
Name  : Mr. Ahmad Tajudin Omar
Director, Domestic Investment Division, MIDA
Tel : 03-2267 3627 
Email : tajudin@mida.gov.my

--BERNAMA