Advanced economies across Asia are well aware of the need to innovate, grow and be more technology-friendly, notably among countries aspiring to meet Industry 4.0 standards. In particular, Malaysia is not slowing down in the realization of its agenda for digitalization and transformation.
Collaboration between the Ministry of Entrepreneur Development (MED) and the Malaysian Technology Development Corporation (MTDC) will provide training for 100 micro-enterprises and small and medium-sized enterprises to recognize digital technologies and develop technology capabilities. In addition, local technology providers with experience in Industry 4.0 solutions will be actively involved in helping small and medium-sized businesses reach and scale their marketing goals. Evidently, the country is keen to deliver on aspirations and has used proactive measures to mentor local SMEs in order to align themselves more with the needs of the industrial revolution. This is because new-age technologies will pose major challenges for unprepared businesses and small and medium-sized enterprises. The adaptation of SMEs to i4.0 technology would improve their capacity to cope with business pressures, irrespective of the local or international market.
With progressive transformation programs and strategic incentives, Malaysia has promoted impressive digital growth and maturity this year. Overall, more Asian countries are expected to step up their efforts to digitalize and develop more engineering capabilities to boost the region’s global market standards.
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