Industry4WRD Steering Committee (SC) Meeting 4/2024
Strengthening Industry4WRD: Reviewing Progress, Ensuring Accountability, and Shaping the Future of Malaysia's Industrial Development
The Malaysia Productivity Corporation (MPC), acting as the secretariat for the Industry4WRD Steering Committee, coordinated the 4th meeting for 2024, chaired by Mr. Faizal, Senior Director of Industry Development at the Ministry of Investment, Trade, and Industry (MITI). The meeting began with a formal approval of the previous minutes, confirming and validating past decisions to ensure continuity and clarity in ongoing projects.
A key highlight was the Malaysian Investment Development Authority’s (MIDA) detailed presentation on the Industry4WRD Intervention Fund’s status as of October 2024. MIDA outlined progress, major achievements, and challenges faced in the fund’s approval process, giving committee members an insightful look into the fund’s current standing and future expectations.
Further in the agenda, a case study examining the experiences of 2020/2021 recipients of the Industry4WRD Intervention Fund (IIF) was presented, showcasing the practical impacts and benefits of the fund. MIDA also presented a Standard Operating Procedure (SOP) regarding repayment by installments for Industry4WRD (IF) grants that were initially disbursed upfront, providing guidance on how these financial processes would be structured to ensure smooth operations.
A significant focus was placed on reviewing the proposed closure report for the Industry4WRD Readiness Assessment & Intervention Fund. MPC was tasked to compile and submit a comprehensive summary report, consolidating insights from prior assessments to highlight outcomes, challenges, and lessons learned.
Meeting Attendees:
1) Ministry of International Trade and Industry (MITI)
2) Ministry of Economy (KE)
3) Ministry of Entrepreneur and Cooperative Development (MECD)
4) Ministry of Finance (MOF)
5) Ministry of Science, Technology & Innovation (MOSTI)
6)Malaysian Investment Development Authority (MIDA)
7) Malaysia Productivity Corporation (MPC)
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