KUALA LUMPUR: Strategic investments by global technology and manufacturing leaders like Honeywell will help Malaysia realise Industry 4.0 says International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
Malaysian talent will gain exposure from best practices and technology, hence can become world class.
Honeywell, which already has a presence in China and Singapore, chose Kuala Lumpur as the regional hub based on factors such as the ability to find and retain good talent, cost efficiencies, ease of doing business as well as the country’s and region’s tremendous growth potential.
“By having most of the top regional decision makers of Honeywell in Kuala Lumpur, Malaysia stands to gain from collaborations that could potentially be entered with our local universities, talent and innovation agencies as well as our local SMEs,” remarked Mustapa at the launch of the Honeywell’s Asean regional headquarters.
Honeywell, which has been in Malaysia since the mid-1980s, has actively engaged with various government agencies to benefit from the talent and innovation ecosystem.
The US-based Fortune 100 diversified global technology and manufacturing leader is part of MiGHT’s committee to look into opportunities arising from Industry 4.0.
Preparing talents for Industry 4.0 is something that the government is looking into seriously and the National Policy Blueprint on Industry 4.0 will be out by end of this year.
He also lauded the multinational’s efforts to motivate Malaysian students to study STEM subjects through participation in the Honeywell Educators at Space Academy programme.
The new headquarters totaling 74,000 square feet has over 400 employees from four business groups namely aerospace, home and building technologies, safety and productivity solutions and performance materials and technologies.
Honeywell Asean president Briand Greer said the company is looking at urbanisation in the region, growth of electronic commerce, Industry 4.0 and IoT (Internet of Things) as the growth of the Chinese Silk Road initiatives as attractive factors.
It invested US$400 million of project wins in six sites in Asean over the past 12 months, pledging “more to come’.
He expects a 15 per cent increase in revenue growth across the Asean region in two years.
Honeywell also invested over US$500 million in Malaysia over the past decade.