PETALING JAYA: Institutions of higher learning must start focusing on Research and Design (R&D) in solving real industry problems that will lead to better productivity and Return on Investment (ROI).
Prime Minister Tun Dr Mahathir Mohamad said there is a need to transform our human capital, both of the existing workforce and students, with new skill, innovative thinking and multi-discilplinary knowledge.
He said this will be consistent with the Industry Forward (Industry4WRD) policy’s target aimed at increasing the number of highly-skilled workers from 18% to 35%, by the year 2020.
“It is important for private firms to invest in re-skilling and up-skilling of their employees, and new entrants into the workforce,“ he said in his speech at the International iR4.0 Conference at SEGi University in Kota Damansara here today.
“This is to sharpen the skillset of the workers so that they are in tandem with the new operating landscape.”
Mahathir said that the country’s education system is aligned with the nation’s economic needs and that graduates from tertiary educational institutions should be able to meet demands of the employment market.
He said the country’s industrial revolution transformation (IR4.0) is expected to increase the per capita productivity in the manufacturing sector by 30%.
“This would elevate the absolute contribution of the manufacturing sector to our economy by 54% from RM254bil to RM392bil.”
Mahathir said technologies such as the Internet of Things, Advanced Robotics, Artificial Intelligence and Additive Manufacturing are contributing factors to generate an increase in net productivity.
He said this transformations will not take effect unless the public is armed with the right strategy and takes the initiative.
“We need to take the Industry 4.0 transformation seriously,“ he said, adding that the country can remain competitive and relevant globally.
The Industry4WRD policy is expected to position Malaysia as a strategic partner for smart manufacturing, a primary hub for high-tech industries, as well as a total-solution provider for the manufacturing sector in Asia Pacific by the year 2025.
