Home Business National 4IR Policy Key in Driving the Nation’s Digital Economy Forward

National 4IR Policy Key in Driving the Nation’s Digital Economy Forward

by Gopalakrishnan Nair
MDV Chairman Khairul Azwan Harun

Malaysia Debt Ventures Berhad (MDV) welcomes the recently launched National Fourth Industrial Revolution Policy (National 4IR Policy) which aims to transform Malaysia into a high-income and high technology nation through the enhancement of the country’s capacity, capability, and readiness in embracing 4IR technologies.

MDV’s Chairman, Khairul Azwan Harun said that as a technology financier, MDV views the implementation of the National 4IR Policy as timely and imperative in providing the nation with coherent and comprehensive strategies to accelerate the adoption of 4IR technologies across all segments of the economy.

He believes that the policy also holds the key in driving the nation’s digital economy further as it provides a much-needed platform for the creation of a conducive digital ecosystem that merges technologies with enabling infrastructures, effective regulatory approaches, and skilled talents.

“The National 4IR Policy demonstrates the Government’s consistent and forward-looking approach in propelling the country’s economic growth to be more technologically driven to ensure that Malaysia is able to remain a competitive nation in this highly challenging digital era. Most importantly, the policy was formulated by placing the wellbeing of the rakyat at the heart of the nation’s 4IR agenda, covering every aspect of the technological shift including the need to address arising risks that come with the adoption of advanced technologies such as decreasing job security, whilst continuing to preserve the Malaysian values, ethical norms and culture, consistent with the country’s Shared Prosperity Vision,” said Azwan.

From a financier perspective, MDV’s role in financing technology companies including in related 4IR technology industries for their continued growth remains significant in line with the Policy’s objective to leverage on the potential of emerging technologies in increasing productivity and efficiencies across all economic sectors to achieve an inclusive and sustainable socioeconomic development.

Azwan added that in addition to MDV’s existing financing solutions, MDV is currently looking to create new products that can be customised to the business requirements of technology companies undertaking projects related to the core technologies identified under the National 4IR Policy and the 30 STIE priority areas under the mySTIE framework such as 5G, fiber optic, Cloud, as well as IOT applications in the areas of Industry automation, Agri technology and Medical Devices.

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