PM Anwar calls GLICs, CLCs to work with government to spur economic growth, increase people’s income

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KUALA LUMPUR:The Malaysian government and Linked Investment Companies (GLICs) are responsible for boosting economic growth and income, as they manage assets  of RM1.84 trillion that is close to the size of the nominal Malaysian Gross Domestic Product (GDP), according to Prime Minister Datuk Seri Anwar Ibrahim.

Anwar said, this year GLICs were capable of moving and leaping the Malaysian economy upward.

“While chairing the meeting with the Chief Executive Officers (CEOs) of GLICs on Thursday, I have given the mandate to GLICs to increase each and everyone’s direct domestic investments.

“In the effort to spur the potentials of Malaysian economy, I have also outlined that GLICs and GLCs could possibly have joint efforts to support the national aspiration to become the destination of investments and world class Islamic economic hub.

“This includes increasing investments in digital and renewable energy and encouraging the Micro, Small and Medium Enterprises (MSME) to widen their markets in the region,” Anwar said.

He also highlighted that the meeting was held as the introduction of reformation to the GLICs and GLCs so that they will focus more on the development and prosperity of the people as outlined in the MADANI Economy-People’s Empowerment.

Meanwhile Anwar who is also the Finance Minister said, he had accepted the CEOs and the GLICs’ proposals to raise the people’s prosperity and the development of domestic economy.

“This includes improving the expenditures from the corporate zakat collections, establishing cooperation with private sectors to build students’ accommodation and mobilizing more funds to invest in companies that are not listed as the small and medium enterprises.

To ensure these missions are successful, Anwar said, the government will hold meetings periodically and he will chair the sessions as Minister of Finance or Datuk Seri Amir Hamzah as the Finance Minister II to monitor the achievements and the development of initiatives led by GLICs.

“Insya Allah with this approach, Malaysia will move faster towards development that is sustainable and fair,” he said. –Malaysia Word News



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