Penang, 2nd September 2014 – YBhg. Tan Sri Amirsham A. Aziz, Chairman of Malaysian Investment Development Authority (MIDA) officially launched the Centre of Excellence (COE) of ViTrox Technologies Sdn. Bhd.
According to Tan Sri Amirsham, this exemplary initiative is a testimony of the capabilities of Malaysia's home-grown companies and a display of the growing awareness among the local business community on the importance of research and development (R&D), design and development (D&D) as well as human capital development to remain competitive and sustainable within the industry.
ViTrox's Centre of Excellence for Machine Vision provides an unique proposition in creating a machine vision ecosystem to tap into the lucrative USD33 Billion Global Machine Vision Market by 2020 with forecasted compound annual growth rate (CAGR) of 11%. The CoE MV aims to cultivate and transform local Small and Medium Enterprises (SMEs) to adopt machine vision technologies and create vision-related products and solutions. It is the platform and one stop centre for passionate individuals and companies to grow, innovate, and succeed in the world of Machine Vision in the region.
"I would like to take this opportunity to thanks all our collaboration partners for their help and participation in the program of the Centre of Excellence. This will definitely speed up the CoE's mission to work with more local companies, MNCs and academics in the area of machine vision related projects and commercialization, hence creating high value added jobs and improving manufactured products and processes quality through the implementation of machine vision technologies," said Chu Jenn Weng, President & CEO of ViTrox.
"I would like to specially express my appreciation to Tan Sri Amirsham and MIDA's officers for their continuous supports through advises, grant and pioneer status since the inception of ViTrox. This enable ViTrox to continue doing the right things by investing intensively in training, R&D, market expansion and machine vision ecosystem building," added by Mr. Chu Jen Weng.