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GLICs to manage the RM1 bil allocation for Bumiputera entrepreneurs

Publish date: Mon, 04 Mar 2024, 04:20 PM

KUALA LUMPUR: The RM1 billion allocation to assist Bumiputera entrepreneurs will be jointly managed by government-linked investment companies (GLICs), according to Finance Minister II Datuk Seri Amir Hamzah Azizan.

He said that the GLICs have invested in high-value commodities or start-up companies.

"We hope that with the funds issued by GLIC-affiliated companies, it will become an area where they can invest in existing businesses managed by Bumiputera entrepreneurs.

"The importance lies in entrepreneurs coming forward with viable ideas that can be invested in by GLICs to further stimulate the economy," he told reporters at the Launching Ceremony of the Business Financing Guarantee Scheme and the Housing Loan Guarantee Scheme-2024 Budget Initiative, today.

Prime Minister Datuk Seri Anwar Ibrahim announced on March 2 that the government is allocating RM1 billion to assist Bumiputera entrepreneurs.

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