MIDA Inks Tripartite Pact With France's Daher, IoT Valley

KUALA LUMPUR, April 23 (Bernama) -- The Malaysian Investment Development Authority (MIDA) has inked a tripartite agreement with France-based aircraft manufacturer Daher and Internet of Things (IoT) association IoT Valley to bring in more added value into Malaysia's aerospace industry. MIDA Chief Executive Officer Azman Mahmud said the memorandum of understanding (MoU) would contribute towards promoting more investment and business cooperation between France and Malaysia, particularly in the development of IoT and logistics in the industry. “Utilising IoT technologies such as data analytics and sensors in logistic services for the aerospace industry would not only enhance the overall user experience for consumers, but would also benefit cost optimisation and energy efficiency. “We foresee that Malaysia would stand to benefit from the future-focused logistic solutions created through this partnership,” he said in a statement Monday. Under the MoU, Daher will contribute towards creating and supporting the development of new innovative solutions in line with the Malaysian Aerospace Industry Blueprint 2030. Meanwhile, IoT Valley will leverage on its dedicated ecosystem of IoT companies to provide the necessary digital and network support to boost this endeavour. As at December 2017, 117 manufacturing projects with French participation had been implemented with investments of RM3.5 billion, mainly in petroleum products, machinery and equipment, transport equipment, chemical and chemical products, as well as basic metal products. These investments have provided more than 10,000 jobs in the country. MIDA noted that France was Malaysia's fifth largest foreign investor in the manufacturing sector among the European Union member states. -- BERNAMA