tian chua

MYINDUSTRIES 2019: Shared Prosperity and MVV topics emerge on Day 2

(Editor’s note: This video has been added for readers to listen to audio of speech)

Chairman of Malaysia Productivity Corporation (MPC), Tuan Tian Chua delivered the first keynote on Day 2 of Segi University’s MYINDUSTRIES 2019. The keynote was titled, “Towards a Productive and Fairer Society.”

Significantly, the speech touched upon the power of creativity enabling us to change our own fate, and how IR4.0 was an opportunity to create a more equitable share of resources that we generate collectively.

“The old economic structure of putting one man above others; this is not what society wants,” Tian Chua observed.

“One of the key thrusts of of new Shared Prosperity Vision 2030, is to become an industrially competent and advanced country.

“This vision of shared prosperity is a call for us to participate. We believe that with new technologies, with new economic structures, we can catch up. We can bring Malaysia to the glory that we all aspire to.

“We, Malaysians must understand that only through sharing, we can all progress.”

Malaysia Vision Valley

After his keynote, Tian Chua also moderated a panel session about the challenges of implementing IR 4.0 (Industry 4.0).

Significantly, one of the panellists was Advisor to the Chief Minister of Negeri Sembilan.

Puan Azlina binti Mohd. Sukaimi talked about state-led initiatives that would help spur IR4.0 effort for the nation. One of Negeri Sembilan initiatives is the Malaysia Vision Valley (MVV), a private sector driven development that was introduced last year.

Meant to promote high-tech investments, the land development would emphasise high-tech industry segments.

Focused upon building the foundation for MVV’s growth, Azlina identified talent as the first challenge to tackle.

She had addressed this with the Negeri Sembilan Skills Development Centre which collaborates closely with Penang Skills Development Centre (PSDC). Besides PSDC, Azlina’s organisation also works directly with Tianjin University, University of Kerala and more.

The objective of all this is to leverage technology and fast track the deployment of required, relevant IR 4.0 skills for Negeri Sembilan’s initiatives.

Blockchain – far from sunsetting

TIDEiSun founder, Chen Ping, another panellist, shared his views that blockchain technology is not only foundational tech to support IR 4.0, but also creative financing. He gave the example of private equity banking as one scenario to use blockchain.

“It also enhances clearing and settlements across nations, increasing efficiency in fiscal terms and efficiency of how capital is deployed,” he said.

He gave the example of existing banking systems and how no matter how hard we work, clearing and settlements can only happen once per day.

“With blockchain technologies being used in fiscal and banking systems, speeds for settlement and clearing can increase to happen in almost real-time,” Chen Ping said.