MIDA Spearheads DDI Initiative Through Enhancing Competitiveness in the Machinery and Equipment Industry Towards Developing World Class Supply Chain Seminar
Kuala Lumpur, October 10, 2023 – The Malaysian Investment Development Authority (MIDA) successfully hosted a seminar today at MIDA Sentral, Kuala Lumpur, aimed at bolstering local machinery and equipment (M&E) companies’ competitiveness to enhance the supply chain ecosystem for multinational corporations (MNCs) and large local companies (LLCs). The event gathered over 160 participants from the private and public sectors, including financial institutions, to provide information on government facilitation programmes for M&E companies and offer insights into financial institutions’ support for adopting emerging technologies. The seminar also aimed to integrate local companies into the supply chains of MNCs and LLCs.
The event was inaugurated by Ms. Lim Bee Vian, the Deputy Chief Executive Officer (DCEO), Investment Development of MIDA. It featured a panel discussion on “Sourcing and Supply Chain Opportunities” with speakers from anchor companies in the M&E industry, including Lam Research International Sdn. Bhd., Cohu Malaysia Sdn. Bhd., Genetec Technology Berhad, and JF Microtechnology Sdn. Bhd. These industry leaders shared insights on sourcing and supply chain opportunities in Malaysia.
Supported by the Machinery and Engineering Industries Federation (MEIF) and Malaysia Productivity Corporation (MPC), the event featured a consultation clinic that connected participants with industry experts, fostering opportunities for fresh partnerships and collaborations. With over 75 companies participating, this clinic is proven to be an invaluable inclusion. Additionally, MEIF presented on “Capacity Building Towards Global Competitiveness” while financial institutions and MIDA shed light on available financing options and government facilitation.
MIDA Deputy Chief Executive Officer of Investment Development, Ms. Lim Bee Vian, in her welcoming remarks, emphasised “Given the complex and dynamic nature of the future of manufacturing, it is important for us to strengthen the partnerships within the local manufacturing ecosystem in order to pool resources, share risks and increase adoption rates. There are many of our local companies with capabilities, from serving as contract manufacturers to Original Equipment Manufacturers (OEMs). They offer a sophisticated ecosystem with world-class R&D, design, and engineering capabilities. While we may not be present in every part of the global value chain, we aim to occupy critical segments where we can add value and remain resilient against competitors who rely solely on cost advantages.”
She also highlighted on the Government’s latest funds amounting to RM235 million to drive automation, digitalisation, and sustainable ESG practices, namely the Domestic Investment Accelerator Fund (DIAF), Foreign Investment Accelerator Fund (FIAF), and MADANI Smart Automation Grant (SAG MADANI), stated “The Government is confident that these funding facilitations will propel our nation towards the vision of a sustainable and dynamic industrial ecosystem. With the facilitation by MIDA, these funds will empower businesses especially local SMEs and Mid-Tier Companies to innovate, expand, integrate in the technologically evolving global supply chain and actively contribute to our nation’s economic progress. As such, I urge all of you to explore these funding facilitations to elevate your business growth.”
The New Industrial Master Plan 2030 (NIMP 2030), launched on the 1st September 2023, emphasis on encouraging the industry to innovate and produce more sophisticated products to boost economic complexity. This strategic focus will lead Malaysia to transition to higher value-added activities, moving beyond traditional manufacturing models towards an innovation-driven manufacturing hub. This concept is closely related to supply chain in several ways whether it be on diversification of supply sources, global supply chain integration, and market access.”
Mr. Sebastian Butz, Supply Chain Director Asia of Cohu Malaysia Sdn. Bhd., commended the seminar for encouraging local companies to enhance competitiveness, stating, “This seminar serves as an exceptional platform to elevate the competitiveness of local firms, enabling them to contribute sustainable innovations for the future of Malaysia’s industrial development. It provides an excellent platform to enhance local companies’ competitiveness in providing sustainable innovation for the future of Malaysia’s industrial development.”
Dato’ Foong Wei Kuong, Managing Director of JF Technology Berhad, stated the importance of a world-class supply chain. He explained, “Having a world-class supply chain is pivotal for industries and the nation’s continued prosperity. Malaysia assumes a crucial role in the global semiconductor value chain, attracting foreign direct investments through its established supply network including the M&E. M&E stand as the cornerstone for moving up the value chain, and investments in cutting-edge technologies and nurturing talent are essential to remain competitive.”
“For us at JF Technology Berhad, we remain focused on investing and upgrading our capabilities while fostering future talents in order to further cement Malaysia’s position in the global semiconductor industry”. He expressed sincere appreciation for the unwavering support provided by MIDA, which has allowed Malaysia’s semiconductor industry to thrive.
Mr. Chin Kem Weng, Founder and Managing Director of Genetec Technology Berhad, highlighted, “Throughout Genetec’s 25-year journey, our collaboration with MIDA has been pivotal in elevating our homegrown company onto the global stage. MIDA’s unwavering support significantly fueled our business growth. Today’s insights and fruitful event are particularly relevant to support local players strive to enhance their processes and products as well as remain competitive in emerging segments like e-Mobility and renewable energy. This includes adapting to new regulations, policy and targets such as outline in the Low Carbon Mobility Blueprint 2021-2030 and Low Carbon Nation Aspiration 2040. Genetec is pleased to share insights on how collaborations between industries, companies, and agencies can foster growth for everyone.”
This collaborative effort, showcased through the seminar, will effectively propelled the M&E industry towards enhancing competitiveness and fostering a world-class supply chain. The Malaysian Government and relevant agencies are committed to supporting the local supply chain’s development, crucial for nurturing an innovation-driven manufacturing hub and a conducive business environment.
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About MIDA
MIDA is the Government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram and Facebook, LinkedIn, TikTok and YouTube channel.
For More Information, Please Contact:
MIDA
Puan Zakiah Sajidan
Director, Machinery & Metal Technology Division
Tel: +603- 2267 6769 | Email: [email protected]
