KUALA LUMPUR, Sept 6 (Bernama) — The Malaysian Investment Development Authority (MIDA) inks a Memorandum of Understanding (MoU) with SIRIM Tech Venture Sdn Bhd (STV) to enhance technology adaption within the domestic investment landscape in Malaysia. The virtual signing between Mr. Sivasuriyamoorthy Sundara Raja, Deputy Chief Executive Officer, Investment Promotion and Facilitation of MIDA and Mr. Ajmain Kasim Chief Executive Officer of SIRIM Tech Venture is seen as a significant milestone in the Government’s efforts to encourage industry players particularly domestic players and SMEs to step up into new technology and move towards implementing Industry 4WRD initiatives in their business processes.
Mr. Arham Abdul Rahman, Chief Executive Officer (CEO) of MIDA expressed in his opening remarks, “We welcome SIRIM Tech Venture (or STV), a wholly owned commercialisation arm of SIRIM, to work closely with MIDA’s Domestic Investment Coordination Platform (DICP) in identifying and matching companies to adopt new production solutions. As we can attest to, the COVID-19 pandemic has invoked unprecedented disruptions and transformed the global economy landscape into the new norms, where companies need to re-evaluate their business models, embark on Industry 4.0 transformation and digitalisation to remain relevant in the market”.
