Budget 2024: Role of GLICs, GLCs significant as driving force of country's economy

SHAH ALAM - The role of government-linked companies (GLCs) and government-linked investment companies (GLICs) is significant as the driving force of the country's economy.

In tabling the Malaysia Madani Bugdet 2024, Finance Minister Datuk Seri Anwar Ibrahim said this year, the accumulated investment value of GLCs was estimated to reach RM130 billion.

The investment focuses, the Prime Minister said included domestic direct investments (DDI), venture capital in high-tech innovative startups and green growth for climate resilience.

"Furthermore, GLICs and GLCs have increased their contributions to various programmes for the welfare of the people and the nation.

"This contribution has risen from RM250 million in 2023 to RM300 million in 2024," he said when tabling the budget in Parliament, today.