Malaysia faces distinct challenges towards achieving SPV 2030, says minister

PUTRAJAYA, July 7 — Malaysia faces distinct challenges going forward in its march towards the Share Prosperity Vision (SPV) 2030, which, among others, constitute enhancing economic growth, encouraging the use of technology in the manufacturing and services industry, and bridging development gaps.

Minister in the Prime Minister’s Department (Special Functions) Datuk Seri Mohd Redzuan Md Yusof said the use of technology was still low in the manufacturing and services industry.

“Although the sector contributes almost 79 per cent to Gross Domestic Product (GDP), the level of technology use is still low at between 20 per cent and 37 per cent,” he said after officiating the Business Blueprint Industry 4.0 Technology Plan 2020 launched by bird nest producer MyNest Group Malaysia, here tonight.

Present was MyNest Group Malaysia director and chief executive officer Datuk Chua Huai Gen.

Mohd Redzuan said as the income gap between urban and rural households has expanded nearly six times in the last 27 years, the economic challenge was to ensure that no group was left behind in sharing the country’s prosperity.

He said hence, the SPV 2030 was important to ensure that Malaysia continued its sustainable development in tandem with a fair and inclusive economic distribution at all levels of income groups, ethnicities, regions and supply chains.

Even though the implementation of the SPV 2030 encompasses all rakyat, he said it needs to take into consideration the priorities of equitable interests of certain groups so that their socio-economic status would be enhanced so as not to miss out on the government’s efforts to achieve the vision.

On the Business Blueprint Industry 4.0 Technology Plan 2020, Mohd Redzuan said it has made MyNest the world’s first bird nest operator to adopt the 4.0 technology which would not only increase its production but also lower its costs.

“With the help of this technology, it will also increase the company’s competitiveness and reduce its dependence on foreign workers,” he said.

He said the technological advancements used will enhance the skills of local workers in the areas of management, high-tech robotics maintenance, and Artificial Intelligence (AI) and automated sensors. — Bernama