Public and private link key to Industry 4.0 success in Malaysia
Malaysia’s 2019 national budget had a significant focus on achieving the country’s vision of becoming a fully connected digital economy.
IDC sees the realignment of Malaysia’s economy towards a smart connected one as an “important step” towards achieving the country’s ambitions to be a leading player in technology innovation and enablement.
A significant focus of the budget announced by Lim Guan Eng, the Finance Minister of Malaysia was on the country’s Industry 4.0 blueprint, titled ‘Industry4WRD’.
“The growth of digital economies is becoming an ever more impactful part of the global economy,” said Randy Roberts, research director of IoT and telco at IDC Asia Pacific.
“The transition to a digital economy is a key driver of growth and development because it can provide a boost to the country’s productivity across all sectors and it creates an attractive environment for new investments from outside Malaysia.
“As the fourth industrial revolution becomes a key driver of the digital economy, entrepreneurs and SMEs need to assess fundamental aspects of their business, including what products and services they sell, how they deliver them to the market, the new skill sets required and how they need to organise to support their operations.
“Now is the time to take advantage of the new policies of the government and partner to accelerate new digital businesses.”