PARIS: Malaysian Investment Development Authority (MIDA) has signed a tripartite pact with Daher and France’s IoT Valley, to promote more investment and business cooperation between France and Malaysia, particularly in the development of IoT and logistics in Malaysia’s aerospace industry.
In a statement, MIDA said the participation of Daher — a key player in Industry 4.0 and a global service provider in aerospace — will contribute towards creating and supporting the development of new innovative solutions in line with the Malaysian Aerospace Industry Blueprint 2030.
IoT Valley, on the other hand, will leverage on its dedicated ecosystem of Internet-of-Things (IoT) companies to provide the necessary digital and network support to boost this endeavour, MIDA added.
“The initiative will deliver a great deal of added value to the aerospace industry in terms of innovative products and services being created, quality employment opportunities and businesses for the local supply chain.
“By utilising IoT technologies such as data analytics and sensors in logistic services for the aerospace industry, it would not only enhance the overall user experience for consumers but also benefit cost optimisation and energy efficiency,” MIDA chief executive officer Datuk Azman Mahmud said.
With the MoU, Azman said MIDA will work closely with Daher and IoT Valley to facilitate their investments in Malaysia.
“We foresee that the country would stand to benefit from the future-focused logistic solutions created through this partnership,” he said.
France is Malaysia’s 5th largest foreign investor in the manufacturing sector among the European Union member states.
As at December 2017, a total of 117 manufacturing projects with French participation have been implemented with investments of RM3.5 billion.
The majority of these investments were in petroleum products, machinery & equipment, transport equipment, chemical & chemical products and basic metal products. These investments have provided more than 10,000 job opportunities in the country.