KUALA LUMPUR: Government-linked investment companies (GLICs) will mobilise RM25 billion in domestic investments under the GEAR-uP programme to strengthen local companies' capabilities in high-value sectors, said Prime Minister Datuk Seri Anwar Ibrahim.
Anwar, who is also Finance Minister, said GLICs have been tasked with strengthening domestic economic resilience and supporting the development of local companies.
Among the initiatives, Sime Darby Property
, the Employees Provident Fund (EPF) and the Armed Forces Fund Board (LTAT) will establish a RM1.25 billion New Economy Venture Fund to develop data centres and logistics assets in Elmina, Selangor.
Khazanah Nasional Bhd and Retirement Fund Inc (KWAP) will invest RM1.2 billion to help local semiconductor companies move up the value chain.
This includes a collaboration between Khazanah and the Selangor government to establish an investment fund for semiconductor development in the state.
Meanwhile, Khazanah's Jelawang Capital and KWAP's Dana Perintis will invest RM450 million to support startup development.
Anwar said a combined RM2.1 billion under the National Industrial Master Plan (NIMP) Fund, KWAP's Dana Pemacu and Khazanah's Dana MTC would be used to strengthen mid-tier companies in sectors such as electrical and electronics (E&E), digital technology, aerospace and medical devices.
Another RM270 million will be allocated to attract private capital through equity crowdfunding (ECF) and peer-to-peer (P2P) financing platforms to support small and medium enterprises (SMEs), mid-tier companies and social enterprises.
The government will also extend income tax exemptions for individual investors using ECF platforms and angel investors financing early-stage technology startups until Dec 31, 2030.
In addition, RM41 million will be allocated to Cradle Fund to implement the Startup Ecosystem Roadmap and provide grants for prototype development and commercialisation.
The measures were announced during the tabling of Budget 2027 in the Dewan Rakyat on Friday.
