Malaysian Industrial Development Finance Bhd (MIDF) is taking a transformative step with the launch of its Future Ready Financing (FRF) Programme. This ambitious initiative seeks to equip Malaysia’s small and medium-sized enterprises (SMEs) with the tools and financial support needed to evolve into smart factories by 2027.
With an impressive RM200 million fund in play, the programme aims to support 100 SMEs in their journey towards digitalisation and smart technology adoption, all while creating over 500 high-skilled jobs.
“Our aim is to channel RM200 million into supporting SMEs by 2027,” explained MIDF Chief Executive Officer Azizi Mustafa at the programme’s official launch in Kuala Lumpur. MIDF is not simply adding new funds but making the most of existing government allocations. The FRF Programme represents a solid commitment to building an innovative, resilient economy that can keep pace with global shifts in industry and technology.
MIDF and Industry Partnership
The Future Ready Financing Programme is more than just a financial boost; it’s a reflection of Malaysia’s broader vision for industrial resilience. In partnership with the Ministry of Investment, Trade, and Industry (MITI), MIDF aims to provide SMEs with financial, advisory, and technological support to become leaders in high-end manufacturing. This focus on Industry 4.0 and artificial intelligence integration is key to Malaysia’s long-term strategy for sustainable growth.
MITI Deputy Minister Liew Chin Tong underscored the significance of the FRF Programme, describing it as “a pioneering initiative that combines governmental commitment with industry support.” The programme is backed by strategic partnerships with Malaysian Technology Development Corporation (MTDC) and SIRIM, ensuring SMEs can access expert guidance and cutting-edge technological solutions. Together, these efforts aim to drive a new industrial era for Malaysia, with SMEs at its core.
A Strategic Shift to Technology-Focused Industry
One of the key motivations for the FRF Programme is to lessen Malaysia’s dependence on unskilled foreign labour. By facilitating the shift towards a technology-driven industrial sector, the FRF Programme helps SMEs embrace automation, upskill their workforce, and reduce reliance on manual processes. This transformation is central to Malaysia’s New Industrial Master Plan (NIMP 2030), which envisions a future where local industries are self-reliant and globally competitive.
“Our SMEs are the backbone of Malaysia’s economy,” noted Deputy Minister Liew, pointing out that they contribute 38% of the nation’s GDP and provide nearly half of its employment. By supporting SMEs through this initiative, MIDF and MITI are laying the groundwork for an industrial sector that can stand on its own, equipped to tackle challenges and capture opportunities in the global market.
Through the FRF Programme, MIDF seeks to enable SMEs to adopt efficient, tech-forward production models that will help them remain competitive on a global scale. This strategic investment is expected to create over 500 high-skilled jobs, underscoring MIDF’s commitment to nurturing a workforce capable of driving Malaysia’s industrial aspirations.
“Our goal with this RM200 million is to build a robust, resilient industrial sector that’s ready for tomorrow’s challenges,” Chief Executive Officer, Azizi Mustafa affirmed.
This FRF programme represents a significant step in Malaysia’s journey toward a more resilient, technologically advanced economy, ensuring that SMEs are well-equipped to thrive in an increasingly competitive global market.
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