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International Trade and Industry (MITI) Minister Datuk Seri Mustapa Mohamed (centre) witnesses the Memorandum of Understanding (MoU) signing between Malaysian Investment Development Authority (Mida) chief executive officer Datuk Azman Mahmud (right) and Rockwell Automation Asia-Pacific president Joe Sousa. Pix by HAFIZ SOHAIMI.

KUALA LUMPUR: The Malaysian Investment Development Authority (Mida) has urged high-tech companies to apply for grants under the Domestic Investment Strategic Fund (DISF).

"Companies in the electronic and electrical, machinery and equipment, chemicals, aerospace and medical devices show high growth potential.

"We encourage these companies to apply for the DISF matching grants,” said Mida chief executive officer Datuk Azman Mahmud.

“For every RM1 investment approved, we'll match it," he told reporters after the opening of the 'Smart Manufacturing' seminar, organised by Mida, and officiated by the Ministry of International Trade and Industry (MITI) Minister Datuk Seri Mustapa Mohamed here today.

At the event, Mustapa also witnessed the exchange of a Memorandum of Understanding (MoU) between Mida and Rockwell, a US-based industrial automation and smart technology provider.

Rockwell Automation, a Fortune 500 company, specialises in control systems, industrial control components, motor control & sensing devices, network & industrial security and consultancy in promoting smart manufacturing.

The minister noted that the partnership between Mida and Rockwell will see a transfer of technical know-how and marketing to both foreign and local investors in Malaysia.

Mustapa said Miti, in spearheading the adoption of robotics & automation, Industrial Internet of Things (IIOT) and smart manufacturing, welcomes feedback on ways to incentivise more companies to embrace Industry 4.0.

In facilitating more companies to embrace the Industry 4.0 way of doing business, Azman said the government is extending help via the DISF matching grants.

The DISF, established in 2012, is meant to accelerate the transition of domestic companies to high value-added, high technology, knowledge-intensive and innovation-based enterprises.

Five years ago, the DISF was launched with RM1 billion in seed funding. Then, under the 10th Malaysia Plan (2016 to 2020), it received a top-up of RM1 billion.

Up until Sept 2016, Mida said 235 projects, valued at RM11.5 billion, have been approved to receive RM995.8 million in matching grants.

"There is still RM1 billion in the DISF to help companies move up the value chain in automating their processes and embracing high technologies to become more productive," said Azman.

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