M&E sector investments in H1 2017 worth to RM709 million approved
KUALA LUMPUR: Malaysia has approved investments worth RM709.7 million for 37 projects in the machinery and equipment (M&E) sector in the first half (1H) of 2017, compared with RM660 million for 35 projects in the same period last year.
Minister of International Trade and Industry,DatukSeriMustapaMohamedsaid the industry was dominated by the small and medium enterprises (SMEs) which produced customised products, including end-to-end manufacturing from design to logistics, to fulfil the strong domestic and global demands.
“I believe the industry’s productivity and competitiveness will increase if the SMEs adopt the Internet of Things (IoT) technology in their operations,” he said in his keynote speech at the opening of the “IoT Malaysia 2017 Seminar” yesterday.
Mustapa also said that local companies, SMEsandstartuptechnopreneursshould explore the IoT as a means to add value to their products and services.
The seminar was jointly-organised by the Malaysia Investment Development Authority and Intel Malaysia.
Meanwhile, Intel Malaysia IoT Group Customer Engineering Director, Eric Chan said Intel had been actively working with local SMEs, especially agricultural entrepreneurs and property developers who were keen on introducing smart home concepts and intelligent transportation.
“Weareworkingonhowwecanimprove the transportation system and more,” he said.
Intel has invested US$5 billion (US$1=RM4.18) in Malaysia and its plant here is Intel’s largest assembly and test manufacturing facility. Intel outsourced its materials locally from more than 100 Malaysian vendors and suppliers. — Bernama