FOR 4TH INDUSTRIAL REVOLUTION IN MALAYSIA
Client
Ministry of Economic Affairs (MEA)
Products & Services
- Policy Planning
- Data Analytics & Business Insights
- Transformation Strategy
- Transformation Program Implementation
Description of Project
Client
The client is a the Ministry of Economic Affairs in Malaysia. Their primary function is to formulate, implement and monitor medium and long-term socio-economic development at the national, state and regional level.
Background
The 11th Malaysian Plan (RMK11) has highlighted “Harnessing the 4th Industrial Revolution (4IR)” as one of the strategies to promote innovation, creativity, and competitiveness of all sector in embracing the intensification of digital revolution.
Challenges & Expectations
In 2018, MITI has launched the National Industry 4.0 Policy Framework (Industry4WRD) on the adoption of Industry 4.0 technologies elements for the manufacturing sector and manufacturing-related services. Given this development, there is a need to develop a broader 4IR policy framework for the rest of the economy to interphase with Industry4WRD framework. In addition, a plethora of existing policies to guide sectoral development needs to be reconciled within a broader framework for better resource optimisation and implementation coordination.
Our Role on the Project
Scope of Services
Working with PwC as a consortia, 27Advisory were to carry out:
- International benchmarking on policy strategy with key enablers, such as technology standards, regulations, financing, human capital and infrastructure that underpins the 4IR development
- Policy strategy framing and initiatives development with clear KPIs & governance structure
Solutions / Outcomes Delivered
- National 4IR Policy Framework as well as action plan, which includes specific implementable strategies and initiatives
- Recommendations on socio-economic policies to address impact of 4IR on the society, including improvements on social safety net and human communication aspects
- A governance structure among with comprehensive monitoring mechanism for government agencies in the implementation of 4IR initiatives with clear KPIs under the action
- Programmes to be implemented in the short and medium term and the risk management factors of each proposed policy actions
