MDV: National Recovery Plan to boost positive outlook for Malaysia's digital economy

MDV: National Recovery Plan to boost positive outlook for Malaysia's digital economy
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KUALA LUMPUR (June 16): Malaysia Debt Ventures Bhd (MDV) is optimistic that the National Recovery Plan will contribute towards a positive outlook for the nation's digital economy and subsequently lead to the corresponding recovery of the technology sector.

“MDV anticipates that the clear framework set by the government for the reopening and energising of the economy will greatly assist technology companies and start-ups in formulating optimised plans for their return to full operations,” MDV said in a statement.  

It said the plan balances social economic welfare and imperatives in paving the way for the nation’s smooth transition from the current Covid-19 crisis through a safe reopening of the economy.

“We view that the government’s implementation of the plan is timely, and well supported by financial reliefs and economic stimulus, which will ensure a progressive economic revival for the country,” MDV added.

As a catalyst for the technology sector’s growth, MDV is committed to assisting technology companies to increase business activities in line with the National Recovery Plan.

“MDV has been increasingly developing our capacity, infrastructure and funding capabilities to effectively deliver on our mandate to finance technology companies across all four phases of the exit strategy under the plan,” said MDV.  

In addition to MDV’s standard financing solutions, MDV said it will also continue to offer the Liquidity Financing for Technology Start-Ups Facility (LIFTS), which is designed to enable technology start-ups to prepare for operations post Covid-19 measures and is currently in the process of implementing the third phase of the moratorium and restructuring of payments for its eligible customers to weather current economic challenges.

This is in addition to other steps taken by MDV to support businesses in line with the finance minister’s directive for government-owned corporations (GOCs) to continue to spur economic activities in the country, it added.

Moving forward, MDV said it continues to stand ready in supporting the government’s efforts in mitigating the devastating and wide-ranging effects of the pandemic on the country’s economy and people’s livelihoods as guided by MDV’s role as the nation’s technology financier.

MDV is a wholly-owned subsidiary of Minister of Finance Incorporated (MoF Inc) established in 2002, with the objective of providing flexible and innovative financing to develop high-impact and technology-driven sectors of the economy, which are identified and prioritised by the government as future engines of growth.

Lam Jian Wyn