KUALA LUMPUR: Khazanah Nasional Bhd said it looks forward to playing an integral role, along with other government-linked investment companies (GLICs), in funding high growth start-ups in Malaysia to spur innovation and economic growth in the country through the RM6 billion Dana Impak.

In a statement on the newly-tabled Budget 2023, managing director Datuk Amirul Feisal Wan Zahir said the sovereign wealth fund also reaffirmed its commitment in supporting sustainable business practices.

"It has allocated RM150 million to spur the development of environmentally friendly projects which include enhancing the carbon market and supporting reforestation," he said.

Khazanah, as a lead investor in Iskandar Malaysia in Johor, welcomed the government's proposal to strengthen Iskandar's development through a Special Financial Zone designation.

"This initiative will provide a competitive business environment to attract foreign direct investment and knowledge workers to Malaysia. Together with other GLICs, Khazanah continues to give back to the community by supporting vulnerable groups and uplifting their quality of life," he said.

He noted that following the reopening of the economy, the government has allocated a further RM30 million to boost economic activity especially in the People's Housing Programme communities under the administration of Khazanah's impact-based foundation, Yayasan Hasanah.

On the National Heritage Fund announced during the Budget 2023's tabling yesterday, Amirul Feisal said Khazanah will lead the formation of the fund to attract private sector participation in preserving Malaysia's national heritage, .

The National Heritage Fund is a public-private partnership initiative which aims to restore and rejuvenate historic heritage buildings, including the redevelopment of the Sultan Abdul Samad Building and Carcosa Seri Negara, which will be executed in collaboration with ThinkCity, a consultancy and project delivery entity founded by Khazanah.

He said that given the significant historical value of the heritage buildings, these preservation efforts will add vibrancy to the city of Kuala Lumpur and connect people across diverse backgrounds by instilling a sense of national pride and shared cultural values.

"All in all, the Malaysia MADANI Budget 2023 will support Malaysia in becoming a stronger nation by fostering inclusivity, competitiveness and sustainability which is in line with Khazanah's mandate to deliver sustainable economic and societal value for the nation," he concluded.- BERNAMA

https://www.nst.com.my/news/nation/2023/02/883407/budget-2023-khazanah-glics-fund-high-growth-start-ups-malaysia-through