Malaysia Sets Its Sights On 3,000 Smart Factories by 2030
Malaysia has set a target for itself to set up 3,000 smart factories by 2030 under the New Industrial Master Plan 2030 (NIMP 2030). It is an initiative focusing on integrating advanced technologies to enhance productivity, create high-skilled jobs, and strengthen the country’s position in advanced manufacturing.
Supporting SMEs to Adopt Industry 4.0
Five hundred companies have already benefited from the Intervention Fund, which supports SMEs and helps them adopt Industry 4.0 technologies. The initiative aims to assist at least 2,500 more businesses by 2030.
Malaysian Industrial Development Finance Bhd (MIDF) is also driving the transformation through key initiatives like Future Ready Financing (FRF) and the Halal Accreditation Technology Improvement (HATI) programme, which are part of the push for more smart factories by 2030.
The FRF will help SMEs implement automation and digital solutions, and HATI will support businesses in meeting halal certification standards through technology upgrades. For the smart factories target to be achieved, approximately an estimated RM15 billion (US$3.3 billion) is needed. So private sector investment is crucial in this scenario. Financial institutions, including MBSB Bhd, are expected to play a key role in funding these advancements.
The logistics sector is urged to take advantage of these government initiatives by integrating automation, data analytics, and IoT. Modernising operations and adopting sustainable practices are important for SMEs to remain competitive in the global market.
Malaysia is committed to smart factories, which will drive innovation, boost economic growth, and position the country as a leader in advanced manufacturing with Industry 4.0.
