Khazanah In Perfect Position To Embark On Advancing Malaysia’s Strategic Initiative

 Prime Minister Datuk Seri Ismail Sabri Yaakob has expressed confidence that the national sovereign wealth fund, Khazanah Nasional Bhd, is now perfectly positioned to embark aggressively on the signature strategic initiative, Advancing Malaysia.

“I am cognisant of the fact that Khazanah does not expect recovery in hard-hit sectors such as aviation and tourism until 2023, but I am very confident in the management’s ability to do their best to overcome the specific challenges impacting these important sectors and create sustainable growth for the long term.

“I am also encouraged by Khazanah’s positive overall performance in 2021 despite the significant commercial obstacles caused by the Movement Control Order and a tepid global economy,” Ismail, who is also Khazanah chairman, said in The Khazanah Report 2021 released Monday.

He noted that strong stakeholder relationships have served as positive enablers to assist Khazanah in attaining positive and sustainable outcomes during the Covid-19 pandemic.

“This co-dependence and interoperability of organisations and ecosystems proved to be so important when the pandemic struck.

“It was a clear demonstration of how robust networks and ecosystems are essential for seamless cooperation in the worst times of a crisis,” he said.

Managing director Datuk Amirul Feisal Wan Zahir said in the report that Advancing Malaysia defines Khazanah’s strategies more comprehensively on how to address the issues and challenges faced by its stakeholders — the government, private sector and community.

He said the company targets to spur and catalyse new growth areas to make Malaysia more resilient and competitive via Dana Impak, a RM6 billion commitment for catalytic sectors.

“The initiatives will have specific financial commitments to be aligned with the national agenda and will be guided by a set of outcomes such as increasing household incomes, improving other socio-economic measures, and promoting crowding-in by the private sector,” he said.

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