Adopt Industry 4.0 Best Practices, Muslim Countries Told

KUCHING (Sarawak), Nov 21 (Bernama) -- Muslim countries need to be in the forefront to adopt the best practices of the fourth industrial revolution (Industry 4.0), an innovation that can fundamentally change the existing economic cycle, in order to benefit from the ‘disruptive change. In making the call, Morocco’s Head of Government, Dr Saad Eddine El Othmani, said Muslim countries should be more open in adapting the rapid changes in the world technology. “Morocco is also working on reformative policies to improve business ecosystem to attract more investments,” he said during the 13th World Islamic Economic Forum (13th WIEF) opening session here Tuesday. He was one of the leaders at the Special Addresses session at the forum, alongside, among others, Sarawak Chief Minister, Dr Abang Johari Abang Openg; Tatarstan (Russian Federation) President, Rustam Nurgaliyevich Minnikhanov; Indonesia Minister of National Development Planning, Bambang Permadi Soemantri Brodjonegoro; and WIEF Chairman Musa Hitam. Prime Minister Najib Razak, who is also the Patron of WIEF Foundation, moderated the session. The three-day 13th WIEF forum, which will end on Nov 23, attracted 2,476 participants from 75 countries. Saad said WIEF served as an excellent platform for Muslim countries to emulate other countries’ advanced experience and preparations ahead of the Industry 4.0, which could benefit them back home. Meanwhile, Comoros Vice President, Djaffar Ahmed Said Hassani, said WIEF was a good platform for business entities from various Muslim countries to gather and exchange views, especially with their different values and principles Dr Mohamed Nouri Jouini, Vice President of Islamic Development Bank, said the bank would support WIEF towards its goal to become even more effective and relevant. “We look forward to working with the WIEF through partnerships and to help it achieve its goal. “We also urge the leaders at this forum to work and engage with us on exchange activities in the fields including employment, education, innovation, psychological transition, health, women, capacity building and business,” he said . Mohamed Nouri said the bank, a multilateral development financing institution located in Jeddah, Saudi Arabia, was undertaking a major transformation to become the bank of developers. He said the Industry 4.0 revolution would spur unprecedented challenges and opportunities for policy making, business people and others. “In this respect, we need to think of new ways of doing business … we need to innovate and provide concrete solutions, including knowledge products to address development challenges. “We also need to reshape our partnerships and extend the activities to the women and youth,” he said. -- BERNAMA