Malaysia Budget 2019: RM3 billion fund under Malaysia Development Bank for development of robotics and AI

One of the key focus areas in the tabling of the Malaysian Budget is present Malaysia the as a key and attractive desination for the investment and devlopment of high technology industry sector. For this purpose, a number of incentives and initiatives was introduced at #Belanjawan2019 today. One of the more insteresting one is the creation of the Industry Digitalisation Transformation Fund under the Malaysia Development Bank.

The RM3 billion fund with a 4% subsidised interest rate incentive is created to accelerate the development and adoption of smart technologies including robotics and artificial inteligence. While we’re some ways away from a highly automated industry, this is the right step in the right direction.