Kuala Lumpur: Prime Minister Datuk Seri Anwar Ibrahim today announced an initial RM1 billion allocation for sovereign wealth fund Khazanah Nasional Berhad to invest in innovative high growth Malaysian companies.
He described the venture that is expected to see up to RM3 billion in the Malaysia n and South-east Asian ecosystem under the Asean Investment Initiative as a “national fund of funds”.“Shortly we shall witness this continuing trend of confidence from investors in all parts of the startup ecosystems, 25 entities in total, that will give a real chance for Malaysia to create cutting edge technology ventures,” he said in his speech at the start of the KL20 Summit 2024 here.
Among the other funds that have committed to the venture are Retirement Fund and Blue Chip Venture Capital. SPONSORED CONTENT Sabah revenue hits RM6.97 billion: Hajiji says GRS State Government may see full term Kota Kinabalu: The Sabah Government continued its momentum in managing the economy in line with the commitment and spirit of the Sabah Maju Jaya when it posted record high state revenue of RM6.973 billion last year.
He said high-tech companies will establish their operations, research and development facilities, and set up regional headquarters to serve the Asian and South-east Asian markets.“Collaboration among cities in Asia will also foster innovation, focusing on accelerated business setup, regulatory alignment, and improved connectivity and mobility,” Anwar said.* Follow us on Instagram and join our Telegram and/or WhatsApp channel for the latest news you don't want to miss.
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