KUALA LUMPUR, Dec 15 — The Council of Digital Economy and the Fourth Industrial Revolution (MED4IRN) which met today for the second time this year, discussed the position of the venture capital funding ecosystem which includes funding from the public and private sectors.

Accordingly, Prime Minister Datuk Seri Anwar Ibrahim said venture capital fund providers and managers have been asked to join forces in identifying efforts and initiatives to strengthen the venture capital funding ecosystem for consideration by the government.

"This is important to accelerate the growth of the digital economy and innovation ecosystem in Malaysia,” he said in a posting on Facebook.

Today’s meeting was attended by the ministers chairing the cluster and digital economy initiative as well as appointed members consisting of representatives of the private sector, industry, academia, think tanks and civil society organisations.

According to Anwar, MED4IRN agreed with the KL20 Action Plan proposal which aims for Malaysia to be in the top 20 of the global startup ecosystem by 2030.

This plan also outlines efforts to develop Kuala Lumpur as a hub for regional startups and digital companies. — Bernama