PUTRAJAYA (June 28): Local small-and-medium-sized industries have to start developing products and services for the fourth industrial revolution (Industry 4.0) in order to stay relevant in the market, said Malaysian Technology Development Corporation (MTDC) Sdn Bhd chief executive officer, Datuk Norhalim Yunus.
If Malaysian companies don't do this, the country will have to rely on other countries for the technology and consultants, he added.
The transition to automation and technological advancement will eliminate wastage, lower costs, increase the customer base as well as help them rise above the competition.
"Among the Industry 4.0 products and services that need to be developed here are the expertise to upgrade machines especially in the furniture, food, aquaculture and agriculture sectors," Norhalim told reporters after delivering the welcoming remarks at MTDC's ReUnites 2018, themed Zero to Hundred, yesterday.
ReUnites is a platform for productive working relationships and strategic networking among companies within its ecosystem. - Bernama