To encourage more local small and medium enterprises (SMEs) stakeholders within the manufacturing and related services sectors to embrace Industry 4.0, the Government has introduced a new incentive, known as the Industry4WRD Intervention Fund.
This is in tandem with the National Policy on Industry 4.0, which introduced the Industry4WRD Readiness Assessment (RA). The RA is a comprehensive programme to help SMEs to assess their capabilities and readiness to adopt Industry 4.0 technologies and processes. Upon completion of the RA programme, companies will be given recommendations to prepare feasible strategies and plan to move towards implementing Industry 4.0 in their operations. To materialise the recommendations that have been put forward, SMEs are encouraged to apply for the Intervention Fund through the Malaysian Investment Development Authority (MIDA).
Industry 4.0 (Industry4WRD) Incentives
The Industry4WRD Readiness Assessment Intervention Programme or in short known as ‘Industry4WRD Intervention Fund’ was launched by the Government in Budget 2019. It is a financial support facility for Malaysian SMEs in the manufacturing and related services sectors to embrace Industry 4.0. This Fund is eligible for all SMEs which have completed the government-funded Industry4WRD Readiness Assessment (RA) programme. MITI has appointed MIDA as the Implementing Agency for the Industry4WRD Intervention Fund.
Industry4WRD Intervention Fund
The fund will be provided on matching basis (70:30) based on eligible expenditures, up to a maximum grant of Ringgit Malaysia Five Hundred Thousand (RM500,000.00) only. Maximum 30% of the matching amount (70% of total grant) will be provided in upfront to the companies subject to the approval by Intervention Fund Approval Committee at MITI, whereby the balance of the remaining grant will be on reimbursable basis which will be deliberated at MIDA.
Industry4WRD Domestic Investment Strategic Fund (DISF)
In addition to that, the Government has also introduced the ‘Industry4WRD Domestic Investment Strategic Fund (DISF)’ under the Budget 2019. The Industry4WRD DISF provides matching grant in the form of 60:40 ratio based on a reimbursable basis to Malaysian companies which have undertaken the Industry4WRD RA programme.
Source: MIDA
Brochure Industry 4wrd – MPC
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