KUALA LUMPUR: The total public investment for development in 2025 will be RM120 billion.
Prime Minister Datuk Seri Anwar Ibrahim, who also serves as Finance Minister, said this while presenting the 2025 Budget in Parliament today.
Anwar said in addition to government development allocations, public-private partnership (PFI) projects valued at RM9 billion will also be implemented, along with direct domestic investments by GLIC companies amounting to 25 billion ringgit.
Previously, Anwar urged government-linked investment companies (GLICs) and government-linked companies (GLCs) to reduce their overseas investments and increase their domestic investments.
In August, six GLICs committed to investing RM120 billion in the country over the next five years under the Finance Ministry-led GEAR-uP programme.
The GLICs include Khazanah Nasional, Employees Provident Fund (EPF), Retirement Fund Inc (KWAP), Permodalan Nasional Berhad (PNB), Lembaga Tabung Haji (TH), and Lembaga Tabung Angkatan Tentera (LTAT).