The Malaysian Investment Development Authority (MIDA) said Malaysia remains competitive amid the COVID-19 pandemic and is moving ahead as one of the top global manufacturing nations through the adoption of Industry 4.0 technologies.
MIDA’s chief executive officer Datuk Azman Mahmud said the country’s diversified economic structure and continuous support from the government in balancing public health and the livelihood of the people, underpinned the growth momentum of Malaysia’s industrial capacity. “To sustain our competitive advantages, the need to transform the Malaysian economy via digital empowerment is no longer an option. Digitalisation is crucial to future-proof our businesses,” he said during a webinar hosted by SEMI Southeast Asia, recently. SEMI Southeast Asia is an organisation that represents electronics design and manufacturing businesses.
Towards this goal, MIDA has taken a proactive step to embrace an innovative initiative by introducing Malaysia’s Lighthouse Project, a concept of modelling companies that have embraced digital manufacturing and globalisation 4.0 in their business model and their entire supply chain. Companies said Azman, should tap on Malaysia’s strong fundamentals which includes the electrical and electronics (E&E) infrastructure and business ecosystem developed over the last 50 years.
Meanwhile, SEMI Southeast Asia’s president Bee Bee Ng said Malaysian E&E landscape will remain robust in the coming months. The E&E landscape in Malaysia would be supported by the immense opportunities offered by the industry, especially with the rise in remote working, virtual learning and e-commerce, according to her. “We foresee the E&E landscape in Malaysia stabilising in the coming months, on the back of demand for smart manufacturing capabilities, automation and technological innovations. “Migrating SEMICON Southeast Asia 2020 to a virtual platform is part of our commitment to the health and safety of our members, exhibitors, guests and employees,” said Ng during the webinar. She said the global semiconductor market has shown early signs of resilience to the economic turmoil caused by the COVID-19 pandemic. Part of this strength said her, comes from the nature of the industry itself, which is present and plays a role in growing other vital sectors such as healthcare, automotive and retail. Ng said, even during these unprecedented times, connecting industry players, especially small and medium enterprises (SMEs) remains important, as they focus on staying adaptive and creative to ride through the fluid landscape.