KUALA LUMPUR: The Fourth Industrial Revolution (4IR) presents Malaysia with significant opportunities for economic growth and job creation, said Deputy Science, Technology and Innovation Minister Datuk Mohammad Yusof Apdal.
He said 4IR initiatives have the potential to drive Malaysia’s transformation into a high-tech, innovation-driven economy, creating skilled employment and boosting productivity across sectors.
“4IR offers a pathway for Malaysia to increase productivity by 30% across sectors and transform our workforce,” he said at the Road to Growth 2024 (R2G) event, organised by Malaysian Technology Development Corporation (MTDC) today.
Yusof emphasised the National 4IR Policy goal of upgrading 20% of semi-skilled and low-skilled labour to highly skilled roles by 2030. “The success of 4IR depends on our human capital, and Mosti is committed to upskilling our workforce to meet the demands of this new era.”
He said the policy also seeks to foster more home-grown 4IR technology providers.
“Since the MTDC 4IR Centre of Excellence was launched in 2018, Mosti has nurtured 26 local solution providers, equipping manufacturers with affordable, advanced technologies. These solution providers are enabling local industries to modernise and become competitive players in the global digital economy,” noted.
Yusof reaffirmed Mosti’s commitment to environmental goals, aiming to reach the Top 50 in the Environmental Performance Index and achieve net-zero carbon emissions by 2050. “4IR technologies are pivotal to our journey toward a low-carbon future,” he stated, citing advancements in energy efficiency and sustainable practices as key to reducing emissions.
Mosti, he said, is backing these ambitions with substantial financial commitments, including RM510 million in research and development funding and a RM200 million venture capital fund for startups, reinforcing its vision to drive Malaysia’s innovation ecosystem.
“Our investments reflect our commitment to making Malaysia a global technology leader and a hub for innovation-driven economic growth. With this investment, Malaysia is on track to capture a significant share of the US$23 trillion (RM101.2 trillion) global digital economy by 2025.”
Yusof noted that Malaysia’s progress in innovation is evident, as the country has recently climbed to 33rd place in the Global Innovation Index (GII), marking its highest ranking since 2016. “Our rise in the GII rankings is a milestone that shows we are on track to achieve a Top 20 position by 2030,” he said.
Meanwhile, R2G 2024, brought together more than 1,000 registered participants with 50 exhibitors, and marked a significant milestone in Malaysia’s journey to becoming a global leader in 4IR.
MTDC Group CEO Mohammad Hazani Hassan said that MTDC is supporting 850 local companies, financing 600 businesses and facilitating the creation of 700 intellectual properties.
“These contributions have generated over RM8 billion in revenue and RM1 billion in export value. We have also approved RM151 million in investments through funding programmes like the Business Growth Fund and Business Start-Up Fund, which have created more than 1,137 jobs and facilitated the development of 60 intellectual properties,” he added.
