Malaysia is not short of initiatives when it comes to the digital economy. But as the deadly coronavirus sweeps across the world, crushing the global economy and stranding people without access to online products and services, the Malaysian government is under pressure to rethink its strategies and to make its digital economy more inclusive.
This is particularly significant since it will help rake up investor interest in the country. In 2019, private equity, venture capital and corporate investors in Malaysia pumped in $232 million in startups in 2019, down 42 per cent from $398.2 million in the previous year, according to data compiled by DealStreetAsia. In comparison, funds raised by Singapore’s startups stood at $4.6 billion last year, while in Indonesia, risk capital investors invested $3.4 billion in companies in 2019.