A show of support from the Government owned company as Malaysia Debt Venture is fully behind the National Recovery Plan and will be supporting the tech sector through out this period.
As announced by the Prime Minister, the NRP will be initiated in 4 phases leading to a full recovery by October this year, the key of course is for the vaccination exercise to go into full gear. With more clarity in the country’s exit plan from the pandemic, MDV states that the clear framework set by the Government will greatly assist technology companies and start-ups in formulating optimised plans for their return to full operations. Its also optimistic that the plan will contribute towards a positive outlook for Malaysia’s digital economy and lead to the corresponding recovery of the technology sector.
MDV plays an important role in providing funding for businesses to scale up, in this aspect the government owned agency is committed to assist technology companies to increase business activities in-line with the National Recovery Plan. The agency, has been increasingly developing its capacity, infrastructure, and funding capabilities to deliver on its mandate to finance technology companies across all four (4) phases of the exit strategy under the plan.
In addition to the standard financing solutions, it will 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 moratorium and restructuring of payments for eligible customers to weather the 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.
Moving forward, MDV 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.