KUALA LUMPUR (July 1): The National Fourth Industrial Revolution (4IR) Policy is expected to increase productivity in Malaysia by 30% across all sectors by 2030, compared to 2020 levels, according to the Minister in the Prime Minister's Department (Economy) Datuk Seri Mustapa Mohamed.
On top of that, Malaysia is also targeted to be in the top 20 countries in the Global Innovation Index by 2030, through the implementation of the National 4IR Policy.
Mustapa said the policy will further enhance the country's capacity and capability to embrace the 4IR, as it looks to drive competitiveness and sustainable growth.
"The National 4IR Policy has been formulated with a human-centric approach so that the rakyat can take advantage of technology while maintaining their humanity, social and cultural heritage values. This is in line with the goal of the Shared Prosperity Vision 2030 to achieve the well-being of the rakyat through an economic growth that is inclusive, balanced and sustainable.
"The policy is also to spur socio-economic benefits and ensure that the risks associated with the 4IR can be reduced," he said today during his speech at the launch of the National 4IR Policy.
The National 4IR Policy was launched by the Economic Planning Unit (EPU) under the Prime Minister's Department earlier this morning, in collaboration with the Ministry of Science, Technology and Innovation (MOSTI), which aims to drive concerted efforts in transforming the country's socio-economic development through the utilisation of advanced 4IR technology.
4IR refers to the disruptive transformation of industries through the application of emerging technology, which is characterised by new technology that is fusing the physical, digital and biological worlds, impacting all disciplines, industries and the economy.
Mustapa in his speech added that the National 4IR Policy will also complement the Malaysia Digital Economy Blueprint (MyDIGITAL), which was launched by the prime minister in February 2021.
He explained that the policy consists of four main thrusts for society, business and government, which are equipping the people with 4IR-related knowledge and skillsets, building a nation with connectivity through the development of digital infrastructure, providing regulations that are appropriate for future needs to adapt to technological changes, and accelerating innovation and adoption of 4IR technology.
"These four policy thrusts will guide ministries and agencies in formulating 4IR-related programs, and will be implemented based on 16 strategies, 32 national initiatives and 60 sectoral initiatives that have been identified," Mustapa said.
Meanwhile, Science, Technology and Innovation Minister Khairy Jamaluddin said the government has also identified five core technologies to build local capabilities, namely artificial intelligence (AI), Internet of Things (IoT), blockchain and distributed ledger technology (DLT), cloud computing and big data analytics (BDA).
"As we can see today, all five of these core technologies have indeed impacted our daily lives and the way we do things. Whether through big data analytics, AI, cloud computing, blockchain or IoT, all of these technologies have helped people in terms of planning, implementation and decision-making.
"Therefore, to ensure that Malaysia remains competitive and able to benefit from the development of 4IR technologies, everyone including the business communities, the government sectors and the Rakyat need to play a role by always being adaptable and ready for changes towards a more systematic and better quality of life," Khairy said during his speech.