|COVID–19 NEWS||Malaysia, UK looking into COVID-19 cooperation | Social gatherings major contributor to recent COVID-19 case surge in Sarawak | Teachers' quick action prevents COVID-19 from spreading in Sabah school | Reopening of schools: Between worry and relief | Schools in nine Sarawak districts will remain closed for another two weeks ||
KUALA LUMPUR, Feb 22 -- The Malaysian Investment Development Authority (MIDA) is partnering with France’s Technical Centre for Mechanical Industry (CETIM) to further strengthen Malaysia’s technological ecosystem by attracting quality investments.
In a joint statement today, MIDA and CETIM said they had inked a memorandum of understanding (MoU) to encourage, promote and facilitate cooperation in the niche engineering and manufacturing technology including emerging fields such as smart manufacturing, Industry 4.0 and circular economy.
“Both parties will undertake joint initiatives such as applied research activities, training and attachment programmes, exchange technical information and expertise in the research and development of industrial technology, as well as facilitate collaboration with local higher learning institutes and research organisations in the field of industrial development,” they said.
MIDA chief executive officer (CEO) Datuk Azman Mahmud welcomed CETIM’s consideration to make Malaysia its regional centre by setting up its Asia-Pacific office here.
He said the MoU was a direct reflection of the agency’s ongoing initiative to enhance Malaysia’s technological landscape in line with the national Industry 4.0 agenda.
“MIDA has always been a conduit between entities such as CETIM, industry players and academia to create effective new collaborations in line with Malaysia’s investment aspiration agenda to develop high value-added, capital- and knowledge-intensive industries.
“Especially now, given how the pandemic has changed the way we live and do business, there are unprecedented vacuum and emerging opportunities within the technological sphere for our stakeholders to tap upon,” he said.
Hence, he said, MIDA was optimistic that this initiative with CETIM would increase the technology capabilities of the country’s industries and lead to further investments in new and emerging fields.
CETIM CEO Daniel Richet said the centre and MIDA, having already been in contact since 2013, would further explore the best ways to handle the issues and challenges in implementing Industry 4.0 in the Malaysian industrial landscape.
“CETIM has a long history and experience in supporting research and development (R&D), innovation and development of all companies, including small and medium enterprises in the mechanical industry, in France, first through national programmes for robotics, additive manufacturing and then internationally.
“We are proud to be associated with MIDA as Malaysia is now embarking on important priorities such as industrial automation and digitalisation,” Richet said.
Meanwhile, the statement said as the principal investment promotion and development authority in the country, MIDA continued to step up its efforts to drive stronger R&D linkages between the industry and tertiary and research institutions.
To date, MIDA has approved 195 R&D projects with total investments of RM3 billion, comprising 46 in-house R&D facility, 79 contract R&D companies, 30 R&D companies, 24 R&D status companies as well as 16 national strategic R&D projects.
“The government continues to support the R&D framework in the country through various incentives and financial assistance,” the statement said.
MIDA, in particular, offers tax incentives to manufacturers with in-house R&D facilities or research service providers.
“An investment tax allowance incentive is offered to entities that are approved as R&D companies, contract R&D companies or in-house R&D facilities whereas contract R&D companies may also opt for pioneer status incentives,” it said.
It added that to further invigorate R&D activities, the firms that received services from R&D-status companies were eligible to claim for double deductions on eligible incurred expenditure to the Inland Revenue Board.