The Ministry of Finance organised GLC Open Day, is a first-of-its-kind event where the public could interact with all government-linked companies and government-linked investment companies under one roof. The effort is also to showcase how these corporations have helped build the foundation of Malaysia’s socio-economic development for nearly five decades.
At the launch, Finance Minister Tengku Zafrul Tengku Abdul Aziz highlighted the roles each GLIC and GLC played in ensuring positive outcomes were met through measured steps for the socio-economic prosperity of short, medium, and long term.
“The COVID-19 pandemic has changed our lives and the way we operate both at the individual and business levels. It has also highlighted various weaknesses that have long been entrenched in our socio-economic structure. Accordingly, in our efforts to further improve the GLC ecosystem, we should also take this opportunity to empower GLICs and GLCs to help the Government address these structural issues. With this approach, we will not only accelerate the country’s economic recovery but also be able to build a resilient and sustainable economy.” he added
Currently, the GLC and GLIC ecosystems constitute about RM445 billion or 25 percent of Bursa Malaysia’s market capitalisation, provide direct employment to 500,000 people, and are among the most important contributors to the country’s supply chain.
With a mandate to contribute objectively to nation-building, the GLC and GLICs will be focusing on 5 major areas starting with the ‘people’. In this aspect, the corporations will be working closely with the Government in intensifying efforts to rehabilitate people’s lives affected by the pandemic and the recent floods. Among them will be others to provide 30,000 job opportunities through its involvement in the JaminKerja initiative in 2022.
For the business community, it will focus on restoring business capability and competitiveness through various initiatives such as business financing, and ongoing support to micro-entrepreneurs, including Bumiputra traders and companies. In the 2022 Budget, RM5 billion was allocated to help micro-entrepreneurs in the GLIC/GLC ecosystem to thrive even further.
A key stakeholder in driving the country’s economy, Tengku Zafrul said GLC and GLICs are to ensure that the economy returns to sustainable levels and the economic gap is closed through community empowerment. They will also play a role in public health and Bumiputera agenda.
These efforts to realign GLC and GLICs are expected to help accelerate the Government’s vision for short-term economic recovery and the restructuring of the economy to build medium and long-term resilience. Going beyond economic, as leading corporates, they have also set examples in social responsibility activities with the establishment of the GLC/GLIC Disaster Response Network (GDRN).
However, this will now be even further enhanced as “GLC Demi Rakyat dan Negara”, and will expand its scope to include Education, Wellbeing, Sustainability of Life, and Humanitarian Response.
The GLC 2022 Open Day takes place from 11 March to 13 March 2022 at the Kuala Lumpur Convention Center with the
participation of 25 GLICs/GLCs, where the public is given access to information on job opportunities, scholarships, and other relevant offers.
