PENJANA (2020) Summary on Tech Industry

Date: 05-Jun-2020:
Location: Kuala Lumpur

Key Takeaways:

PM of Malaysia announced economic stimulus package to revive the economy to mitigate the COVID-19 pandemic.

Download full text in Bahasa Malaysia.

The plan, nickname PENJANA, includes tech elements.


Item 39 : Free Daily 1G Internet Connectivity

Daily 8am to 6pm, the government will collaborate with telcos to provide consumers with free daily 1G Internet connectivity to benefit from online education and video conferencing applications and activities - this facility will be available until 31 Dec 2020.

Besides, Internet connectivity must ensure 'zero rated' bandwidth for connectivity towards public services web applications, such as the mySejahtera app.

Item 41 & 42 : Digital Transformation for Online Sales Generation

The government will assist all businesses to regenerate business transactions via online sales.

RM 140 million worth of grants will be made available through MDeC and other e-trade platforms which can be used to online courses, sales subsidy and tools.

Item 52 : Social Enterprise Continuous Development

RM 10 million allocation via grants to be managed by Malaysian Global Innovation and Creativity Center (MaGIC) for social enterprise projects targeting neglected community.

Item 55 : Talent & Innovation Development

The government will allocate RM 600 million, alongside an equal matching amount to be contributed by the private sector namely the venture capital sector - interested international venture capitalists include SK Group, Hanwha Asset Management, KB Investment Co Ltd, Provident Growth, 500 Startups dan The Hive.

Item 56 : Digital Transformation Exploration

RM 100 million allocation for National Technology and Innovation Sandbox to be spearheaded by Ministry of Science, Tech and Innovation for exploration of new technology such as drone delivery and self driving vehicle.

Item 57 : Digital Transformation & Automation for the Public Services

The government will introduce more online public services and e-counter such as online interview for government scholarship.

Item 58 : Buy Malaysia Products Initiative

To promote the culture of 'Buy Malaysia' products with establishment of dedicated e-trade platforms.

Item 59 : Digital Transformation Contactless Payment

RM 750 million allocation, government provides RM 50 e-wallet credits for consumers, alongside an equal matching amount from e-wallet provides in the form of voucher, cash back and discounts. Expected to commence by Jul 2020 targeting 15 million Malaysian.