KUALA LUMPUR (Oct 13): Budget 2024 strikes the right balance to bolster Malaysia’s resilience amid global headwinds, while advancing economic transformation and improving socio-economic outcomes for all, said Khazanah Nasional Bhd managing director Datuk Amirul Feisal Wan Zahir.

In a statement on Friday, Amirul Feisal said the newly tabled budget is well aligned with Khazanah's purpose to deliver sustainable value for the nation, supporting Malaysia's journey towards becoming a prosperous, equitable and sustainable society.

“Khazanah and our investee companies are fully committed to supporting the implementation of Budget 2024 and the Madani Economy vision, in line with our strategy of Advancing Malaysia.

“Guided by this framework, we will continue undertaking strategic investments, developing human capital, supporting start-ups and SMEs (small and medium enterprises), driving sustainability, and executing impactful CSR (corporate social responsibility) programmes," he added.

Meanwhile, Khazanah has been tasked with spearheading the strengthening of the local venture capital (VC) ecosystem as announced in Budget 2024, in collaboration with VC agencies such as Penjana Kapital and Malaysia Venture Capital Management Bhd (Mavcap).

The national sovereign fund, together with other government-linked companies and government-linked investment companies, will allocate RM1.5 billion in funding for start-ups, including Bumiputera SMEs in high-growth, high-value industries, such as the digital economy, aerospace technology, and electrical and electronics industries.

“Khazanah’s Dana Impak initiative, a fundamental pillar under our Advancing Malaysia strategy, invests in areas that aim to enhance Malaysia’s economic competitiveness, strengthen national resilience, and deliver socio-economic benefits to the rakyat.

“In 2024, Dana Impak will allocate RM600 million to spur economic growth, and create opportunities for rural, suburban, and underserved communities, in line with the government’s vision of more balanced regional development, thereby raising both the floor and ceiling for Malaysians nationwide,” said Amirul Feisal.

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