Wednesday, 21 November 2018

Industrial Strategy for the Future – Britain and Malaysia in Perspective


In November 2017, Britain published its industrial strategy “Building a Britain Fit for the Future”. The four grand challenges addressed for Britain were as follows:


On 31 October 2018, Malaysia launched the country’s Industry 4.0 policy or Industry4WRD. This National Policy focuses mainly on digitally transforming Malaysia’s manufacturing sector and its related services to embrace Industry 4.0. The policy envisions Malaysia as a strategic partner for smart manufacturing. The manufacturing sector contributed about 23% to GDP over the last five years. Growth is seen to be about 5% over the next 2-3 years. It places emphasis on SMEs as a significant proportion are in manufacturing. The Industry4WRD Council is in charge of implementing, monitoring and managing action plans under the policy.

Essentially, the Industry4WRD is depicted as follows:



It acknowledges other countries have embarked on their Industry 4.0 transformation and are in advanced stages of implementation. As such it suggests the following:


To succeed in a fast-changing environment we need to re-order our education eco-system. We cannot rely on existing policies and processes in the education sector to deliver an aspiration in the industry front. We have to be brave to revamp the secondary and tertiary levels or at least regenerate some schools and universities with focus on the future – AI, Big Data Analytics and Advanced Materials. Unless we do so, the Industry4WRD will just remain a good document!

References:
1. Industry4WRD – National Policy on Industry 4.0, Ministry of International Trade and Industry
2. University College London (https://www.ucl.ac.uk)

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