PM: GLCs expected to record RM130b cumulative investment value this year

PM: GLCs expected to record RM130b cumulative investment value this year

13 Oct 2023

Government-linked companies (GLCs) and government-linked investment companies (GLICs) continue to fulfil their role as the driving force behind the country’s economy, with GLCs’ estimated cumulative investment value to reach RM130 billion this year.

Prime Minister Datuk Seri Anwar Ibrahim said that the investment focus includes direct domestic investment, venture capital in highly innovative start-up companies and green growth for climate resilience.

“Furthermore, GLICs and GLCs have also increased their contribution in the implementation of various programmes for the well-being of the people and the country, from RM250 million in 2023 to RM300 million in 2024,“ he said during the tabling of Budget 2024 in the Dewan Rakyat today.

Meanwhile, in order to fulfil the aims of the National Energy Transition Roadmap (NETR), the government provides the National Energy Transition Facilitation Fund with a total value of RM2 billion.

Additionally, financial institutions will provide financing facilities totalling RM200 billion to encourage the industry to shift towards the low-carbon economy, said Anwar.

To achieve the renewable energy capacity target of 70 per cent by 2050, efforts to improve the implementation of the Corporate Green Power Programme as one of the implementation methods of the Third Party Access (TPA) model will continue.

“The government will continuously explore the TPA model and develop appropriate implementation methods to drive investment in renewable energy capacity,“ said Anwar.

Source: Bernama