KUALA LUMPUR (Aug 8): Six leading government-linked investment companies (GLICs) collectively pledge to invest RM120 billion in domestic direct investments (DDIs) over the next five years under the first phase of the Ministry of Finance’s (MOF) gear-up programme.

The programme aims to synergise efforts across government-linked entities to catalyse growth in key economic sectors, with GLICs expected to invest RM120 billion in DDIs, on top of RM440 billion in public market investments under their steady-state investment programmes.

“These investments are primarily directed towards high-growth high-value (HGHV) industries such as the energy transition sector, advanced manufacturing especially in the semiconductor space, investments across all life cycles of firms from start-ups, venture capital to mid-tier companies and finally to support listing of such companies,” MOF said in a statement Thursday.

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