The RM3 billion Industry Digitalisation Transformation Fund was launched by Finance Minister Lim Guan Eng today. — Picture by Shafwan Zaidon
The fund which was first announced in Budget 2019 is aimed at helping Malaysia achieve its Industry 4.0 goals by accelerating industry's adoption of the related technologies and to propel the nation in becoming a strategic partner for smart manufacturing and related services in the Asia Pacific region.
“There are several targets that have been set for 2025, by which time, we hope to raise the manufacturing productivity by 30 per cent from RM107,000 per person in 2016 to RM139,000 per person in 2025,” said Lim. Under the fund, borrowers will benefit from an interest subsidy of two per cent per annum, provided by the government, to companies planning on upgrading production technology.
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