SAN FRANCISCO: Khazanah Nasional Bhd has spread its wings to the Americas, opening an office in San Francisco, a premier hub for innovation and technology.
Prime Minister Datuk Seri Najib Tun Razak, who officiated the opening of Khazanah Americas Inc (KAI) here on Sunday, said the choice to locate the office in San Francisco was a right one.
“If Malaysia is to be a high-income nation by the year 2020, we need to move up the value chain with the right knowledge, innovation and entrepreneurial skills.
“By being here, it shows our seriousness of wanting to be involved in cutting-edge innovations,” Najib said in his speech.
He hoped the move would encourage more trade and investments between Malaysia and the United States.
KAI is Khazanah’s third regional office after Beijing and Mumbai.
Khazanah managing director Tan Sri Azman Mokhtar said that KAI would play a big role as a bridge between Malaysia and the premier innovation and US technology hubs.
“As home to both established technology firms and start-up ventures, leading universities and media-related companies, San Francisco and its surrounding environs have established a vibrant ecosystem for supporting entrepreneurs and innovation.
“The establishment of KAI would help build a pipeline of talent and collaboration between Malaysia and the US, and help accelerate Malaysia’s very own innovation and technology capabilities,” Azman said.
Khazanah’s expansion into the American continent is part of its larger strategy to become more global in scope.
As of May this year, Khazanah’s overseas investments represented approximately 9% of its total investment portfolio of RM135.9bil.
At the same event, Khazanah was conferred the “Global Award for Visionary Innovation Leadership” by Frost & Sullivan, the global business consulting firm, for the pioneering work that Khazanah has done to catalyse and propel economic development in Malaysia.