Guidelines for application to the Industry4WRD Intervention Fund
The Industry4WRD policy, launched on 31 October 2018, was developed to propel Small and Medium Enterprises (SMEs) forward to meet the challenges posed by the Fourth Industrial Revolution. The policy was formulated based on three key principles:
a) To encourage stakeholders to apply Industry 4.0 (I4.0) technology
b) To create a comprehensive ecosystem for I4.0 application by industry
c) To transform the manufacturing sector holistically
To achieve the aspirations above, various measures as well as tax incentives were proposed in Budget 2019 (see Special Tax Alert: Highlights of 2019 Budget – Part I).
Following the above, the Malaysian Investment Development Authority (MIDA) has recently issued guidelines and procedures for application to the Industry4WRD Readiness Assessment Intervention Programme (Industry4WRD Intervention Fund). The Fund is a financial support facility for Malaysian SMEs in the manufacturing and related services sectors that have completed the Government-funded Industry4WRD Readiness Assessment (RA) programme, to implement intervention projects based on the recommendation of the Industry4WRD RA Report.
The guidelines explain the application procedure, the documents which are to be furnished in support of the application, criteria for evaluation by MIDA, project duration, scope and quantum of funding, notification of the results, the effective date of the application, as well as the right of the Government to withdraw the grant if the applicant fails to execute the intervention project as approved.
In addition, a process workflow for applications is provided in Appendix B of the guidelines.
Further details are available via the following link:
