PETALING JAYA (July 24): The government is urged to increase funding and incentive support to help manufacturers transform into smart factories, as targeted under the New Industrial Master Plan 2030 (NIMP 2030). 

Federation of Malaysian Manufacturers (FMM) president Tan Sri Soh Thian Lai reckoned a total of RM5 billion in financial support is needed to fund the transformation at the national scale - from the about RM3 billion grant and funding currently available. 

This would allow Malaysia to achieve the goal of creating 3,000 smart factories by 2030 via Industry 4.0 and the adoption of digital technologies, he told reporters after the FMM Industry 4.0 Conference 2024 here on Wednesday.

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