Agrobank and MTDC Collaborates to Accelerate i4.0 Practices into the Malaysian Agriculture Sector
KUALA LUMPUR – Agrobank and Malaysian Technology Development Corporation (MTDC) today inked a memorandum of understanding (MoU) to collaborate and promote entrepreneur’s development programme and further accelerate the industry 4.0 technology (i4.0) practices into the Malaysian agriculture sector.
In this collaboration, Agrobank will provide financial funding of RM20million for 200 entrepreneurs related to agriculture sector identified by MTDC for the first phase of the entrepreneur’s development programme initiative. Each entrepreneur will receive funding amount of RM100,000 maximum.
Identified entrepreneurs will be mentored, coached and will receive technical assistance through MTDC’S technical providers: Technopreneur Training Academy (TENTRA) to provide entrepreneurship training and MTDC’s Centre of 9 Pillars (Co9P) to provide linkages with highly experienced trainers for all training and i4.0 solution needs.
The MoU signing ceremony to mark the collaboration was represented by Khadijah Iskandar, Covering President/ Chief Executive Officer of Agrobank, and Dato Norhalim Yunus, Chief Executive Officer of MTDC. The signing ceremony was witnessed by Datuk Seri Dr. Ronald Kiandee, Agriculture and Food Industries Minister, Dato’ Mustapha Buang, Chairman of Agrobank, and Tan Sri Abd Rahman Mamat, Chairman of MTDC.
Datuk Seri Dr. Ronald Kiandee, said, this partnership between Agrobank and MTDC is perfect combination in realising the national vision of i4.0 with smart and modern farming practices in the agriculture sector.
He said, the various trainings including knowledge sharing events to be organised or co-organised between the two entities is expected to accelerate the adoption of i4.0 technologies especially in the area of modern and smart farming within the entrepreneurs.
“The smart and modern farming practices has been envisioned as the new future of the local agriculture spectrum, I am glad this vision is being realised through this partnership in supporting the agriculture industry.
“Entrepreneurs will be introduced to the usage of robots in smart farming which will lead to better management and lower operational costs. Smart farming has a real potential to deliver a more productive and sustainable form of agricultural production,” he said.
Dato’ Mustapha Buang, Chairman of Agrobank said, Agrobank is honoured to be part of this partnership where the Bank is always committed to support business opportunities that further develop the national agriculture industry.
“The outlook for the agriculture sector for the next decade appears promising despite global challenges such as climate change, a growing population and scarcity of resources. The agriculture sector — or more precisely the agro-food sector, continues to be one of the important growth engines for the national economy.”
“Therefore, by venturing into new business concept that involves technology, we believe this is how farming shall be conducted in the future and it has to begin from here. The i4.0 practices has a bright future if wisely applied into the agri businesses.”
“We also believe, with the right guidance this initiative will attract and encourage more young entrepreneurs into the agriculture sector and making it the new sources of wealth in the few years to come,” he further added.
Meanwhile, Tan Sri Abd Rahman Mamat, Chairman of MTDC said, this partnership will enable the entrepreneurs to benefit from MTDC’s wide and extensive networks as they will be provided with marketing, networking opportunities and technology solutions for smart and modern farming.
“The Internet of Things (IoT) will change how we view agriculture entirely. MTDC, as the strategic enabler for i4.0 is committed to assist all the entrepreneurs in the adoption of i4.0 technologies developed by our local talents and resources,” he said.