MIDF Launches RM200m Scheme to Help SMEs Upgrade into Smart Factories
Government’s Commitment to Empower SMEs and Strengthen Economic Resilience
Malaysian Industrial Development Finance Bhd (MIDF) has launched a RM200 million scheme, Future Ready Financing (FRF), to help 100 Malaysian SMEs upgrade into smart factories by 2027. The programme is aimed at creating more than 500 high-skill jobs in manufacturing and manufacturing-related services.
Collaboration between MIDF, MTDC, Sirim, and Solution Providers
The collaboration is led by MIDF through the FRF programme, with support from Malaysian Technology Development Corporation (MTDC), Standards and Industrial Research Institute of Malaysia (Sirim), and solution providers. The programme offers targeted financial products, expert advisory services, and advanced technological solutions to drive automation, enhance operational efficiency, and reduce dependence on unskilled foreign labor.
Smart Factory Solutions
The programme is designed to help SMEs adopt Industry 4.0 technology, access real-time data analytics, engage in precision manufacturing, and roll-out smart factory systems across the board. This will enable them to increase productivity, reduce costs, and improve product quality.
Empowering SMEs for Sustainable Growth
MIDF chairman Tan Sri Abdul Rahman Mamat believes that empowering local SMEs is fundamental to building a resilient and innovative Malaysia. "FRF reflects our dedication to that vision, supporting our SMEs with tailored financial tools, resources, and knowledge to grow sustainably."
Job Creation and Economic Impact
The programme is expected to create more than 500 high-skill jobs in manufacturing and manufacturing-related services, contributing to the country’s economic growth and development. The Malaysian government’s commitment to empowering SMEs is a key strategy to achieve the country’s economic targets under the New Industrial Master Plan 2030.
FAQs
- What is the Future Ready Financing (FRF) programme?
The FRF programme is a RM200 million scheme launched by MIDF to help 100 Malaysian SMEs upgrade into smart factories by 2027. - What is the goal of the FRF programme?
The goal of the FRF programme is to equip SMEs to excel in high-end manufacturing and manufacturing-related services, creating more than 500 high-skill jobs in manufacturing and manufacturing-related services. - Who are the partners involved in the FRF programme?
The partners involved in the FRF programme are MIDF, Malaysian Technology Development Corporation (MTDC), Standards and Industrial Research Institute of Malaysia (Sirim), and solution providers. - What is the expected impact of the FRF programme?
The FRF programme is expected to increase productivity, reduce costs, and improve product quality, contributing to the country’s economic growth and development.