Malaysia to adopt a new policy to regain its status

Policy

In order to regain its reputation as an Asian tiger, Malaysia strives to be an Industry 4.0 hub in South East Asia.

Prime Minister Tun Dr. Mahathir Mohamad said that there was no other option but to be aggressive in adopting Industrial Revolution 4.0 taking into account the accelerated rate at which new technologies evolved.

He said that they plan to push Malaysia to become South-East Asia’s Industry 4.0 hub with its Industry 4.0 National Policy (Industry 4WRD) launched last year.

He also said this in his keynote address at Monday’s Segi University International Conference on Industry 4.0: A Global Revolution Towards Business, Innovation, and Productivity (Oct 14) that in order to accelerate a sustainable future for Malaysia, it was necessary for digital transformation to take place. Industry 4.0 could lead to a rise in the GDP per capita as a result of increased productivity and job opportunities.

The productivity per person in Malaysia in the manufacturing sector can be increased by 30 percent from RM106,647 if the Industry 4WRD policy is implemented. Additionally, this would help in elevating the absolute contribution of the manufacturing sector Malaysia’s economy by fifty-four percent from RM254bil to RM392bil stated Dr. Mahathir

While new technologies might be disruptive, Dr. Mahathir said they also offer exciting prospects and challenges.

Industry 4.0 would transform the labor market into a skill-centered force following the consolidation of Operation Technology and Information Technology (IT), data analytics, process understanding, and the ability to work with disruptive technologies.

Therefore, in order to make the adoption of Industry 4.0 a success and profitable, a sustainable approach and methods have to be employed to ensure the continuous growth of the economy.

Shreyas Tanna

About Shreyas Tanna

The winner of Mr. Pune 2009 Pageant, Mr. Shreyas Tanna is currently the young, dashing, and dynamic CEO of a market research company called Research N Reports in Pune. Fondly known as RNR, the company specializes in market research as well as industry analysis, and is closely associated with its parent company Absolute Markets Insights (AMI). Mr. Shreyas Tanna began his corporate journey as the Head of Corporate sales & PR at RED Entertainment while pursuing his degree for MMS (Marketing) from the MGM College of Management, Mumbai. After accomplishing the tedious task of balancing his work and education, he further polished his skills in Corporate Sales, Public Relations, Channel Development, Global Client Engagement, Strategic Consulting, and Brand Development by working with HDFC Life and ResearchMoz Global Pvt. Ltd. His dedication towards his work has even won him accolades such as the National Level Performer 2013 – HDFC Life and Mr. ResearchMoz 2015. A disciplined individual with a loving heart, he is often seen taking crisp walks with an engrossed look and a gentle smile within the premises of his company to interact with the various departments. And he will be usually followed by an adorable trail of his beloved trio of Shih Tzu babies proudly known as Gucci, Drake, and Paris. The most enticing thing that you will notice about this content and proud pet parent is his infectious positivity and the firm belief in his eyes, a reflection of his favorite quote, “LIFE IS BEAUTIFUL!”

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