MIDF Launches Future Ready Financing Programme to Empower Malaysian SMEs

4 November 2024 – In a significant milestone for Malaysia's small and medium enterprises (SMEs), the Future Ready Financing (FRF) Programme was officially launched today by YB Liew Chin Tong, Deputy Minister of Trade, at Menara MITI in Kuala Lumpur. This initiative, spearheaded by MIDF with the support of MTDC, SIRIM, and Solution Providers (SPs), marks a transformative step in equipping SMEs with the tools and resources to thrive in the era of Industry 4.0.

The FRF programme is designed to empower SMEs in the manufacturing and manufacturing-related services sectors by providing targeted financial products, expert advisory services, and advanced technological solutions. This holistic approach addresses key challenges faced by SMEs in adopting automation and digitalisation technologies, reducing their dependence on foreign labour, and positioning them for sustainable growth and global competitiveness.

Supporting Malaysia’s Industrial Master Plan

In alignment with Malaysia’s New Industrial Master Plan (NIMP) 2030, FRF is a strategic pillar in the nation's journey toward becoming a high-tech, high-income economy. The programme plays a vital role in advancing digital transformation, fostering industrial sustainability, and building economic resilience.

Collaborative Public-Private Partnerships

The FRF programme is supported by strong partnerships with MTDC, SIRIM, and Solution Providers. These entities play crucial roles in assessing SMEs’ technological readiness, matching businesses with the right solutions, and providing tailored financing and advisory support. Together, they ensure SMEs are equipped to integrate smart technologies and enhance operational efficiency, paving the way for a digitally vibrant and competitive industrial landscape.

MIDF is ready to empower over 100 SMEs and provide 500 skilled jobs by 2027 with MIDF’s latest financing programme, Future Ready Financing (FRF).

"For this financing, we are not introducing new allocations, but rather using existing funds provided by the government. So, we are targeting to achieve RM200 million before the year 2027," MIDF CEO, Encik Azizi Mustafa, told reporters during the launch of FRF.

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