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Malaysian govt welcomes tech firm’s commitment to IR 4.0

Image Credits: The Straits Times, News Article

A recent report noted that a Fortune 100 global technology and software-industrial company, has reaffirmed its strong commitment and continued contribution towards the growth and development of Malaysia’s Industry 4.0 agenda.

This was welcomed by the International Trade and Industry Minister during his visit to the firm’s Technology Experience Center (HTEC) in Washington DC, USA.

The Minister was joined by the Chief Executive Officer (CEO) of InvestKL and the CEO of the Malaysian Investment Development Authority (MIDA) as well as with other senior officials.

The delegation was received and hosted by the firm’s government relations global vice president.

The International Trade and Industry Minister said the ministry continued to look out for best practices in innovation, technology, industry and manufacturing that Malaysia can adapt to its growing industry 4.0 plans.

It was noted that a successful innovation ecosystem is one that allows multinational companies (MNCs) to thrive and at the same time, enables small and medium enterprises (SMEs) to be successful in niche markets and become respected sources of economic strength as suppliers to MNCs and as exporters.

Malaysia is already on track to achieving this. An important factor in ensuring success is working with industry partners and global players like Honeywell to enable SMEs to make continual incremental improvements in processes and products that help them move up the value chain. This, in turn, translates into sustained competitive advantages, a statement by the Minister noted.

The chairman and CEO of the tech company visited Malaysia last year and met with key customers and senior government officials.

The CEO had expressed positive and optimistic feelings with regards to Malaysia’s aim of being a primary destination for high-tech industries and its plans for technological innovation.

He had noted that Malaysia’s Industry 4.0 agenda has provided the firm with the welcome opportunity to partner with government entities, local SMEs, suppliers and other key stakeholders to help address the region’s growing demands for energy efficiency, sustainability, safety and productivity in the places where people live, work and play.

Moreover, the firm’s leading connected products, services and solutions boost the effectiveness of an array of industries, including air travel, building technologies, worker safety, supply chain management and distribution, manufacturing, and refining, petrochemicals and renewables – to name a few.

The visiting group gained some insights into some of these connected technologies, during their visit to the HTEC.

On display were sections dedicated to connected buildings and utilities, connected worker, connected plant, connected supply chain and connected aircraft.

It was noted that by working closely with global players, local SMEs are more likely to introduce innovative products and services than focusing entirely on domestic markets.

The tech firm is bringing a positive impact on the growth of SMEs in Malaysia and wants to continue to welcome similar prospective investors with objectives that are aligned with Malaysia.

The firm established its ASEAN regional headquarters in Kuala Lumpur in 2015 as the first MNC to join the government’s Principal Hub initiative. Today, it employs 1,500 employees in six locations across Malaysia.

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