Ministry of International Trade and Industry

In the past few months, business owners – out of pure necessity – had to take a hard look at their business processes, operations and workforce. With the surge of Work from Home culture and the sudden uptake of remote working technologies, digital adoption rates are higher than ever. Organisations were forced to adapt and abandon conventional methods in order to remain afloat.

Before the COVID-19 pandemic, many were unprepared for a digital shift despite pressures from governing bodies. The need did not present itself and long term benefits were outweighed by costs and other economic challenges. IR 4.0 was, to many, a buzzword – a gimmick, even. As the global economy sees a downturn, more and more businesses are at risk of shuttering and filing for bankruptcy. In a time of uncertainty, one thing could potentially provide a better chance of survival in the post-pandemic environment: digital transformation.

Now more than ever, sustainable development such as IR 4.0 has a greater potential to resuscitate our economy, improve the quality of life of the population and ensure safety measures are kept in place. Our role remains the same, to usher in more investments into our digital economy and to promote and accelerate the adoption of digitalisation and innovative technologies. 

This monthly publication, Recollective, is the Ministry’s initiative to keep track of its progress, ensure full transparency and encourage a more positive outlook as we progress towards a better future.

The Ministry urges all business owners to realign their focus and prioritise digital transformation – hence our cover title – Industry4WRD: Priming Your Business for the Future.

Tech adoption and advancement will help keep businesses afloat during these trying times. Keep reading and feel free to reach out to us if you have any questions.

#EconomicFrontliners

MITI Recollective Editorial Team