The allocation is to improve household incomes and achieve other socio-economic outcomes

by NUR HAZIQAH A MALEK / Pic by TMR GRAPHIC

KHAZANAH Nasional Bhd will be taking the lead in making catalytic investments to complement the existing plans for recovery and growth in the country, by allocating RM6 billion through Dana Impak over the next ve years.

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the allocation aims to improve household incomes and achieve other socio-economic outcomes linked to the national agenda and aspirations.

“In addition to Dana Impak, I applaud Khazanah’s commitment to enhance its investment strategies and processes for sustainable and responsible investing,” he said during his closing speech of the Khazanah Megatrends Forum 2021 yesterday.

Other plans include the recently announced Perkukuh Pelaburan Rakyat programme and the implementation of Pelan Jalinan Digital Negara to enhance digital connectivity while achieving full 4G coverage and 100% broadband coverage in populated areas.

The country’s recovery from the adverse Covid-19 effects will continue with the implementation of the Budget 2022, which will focus on recovery, resilience and reform, and will work hand-in-hand with the National Recovery Plan (NRP) that was introduced in June 2021.

He said the country’s NRP was planned as a comprehensive approach to preserving lives while allowing the economy to open safely, and will set the nation firmly on the path to recovery based on science and data.

“Recovery will continue with the announcement of the Budget 2022, which is described as expansionary while laying the foundations for the government’s wider and longer-term efforts.

“The NRP and Budget 2022 will form the building blocks for Malaysia’s longer-term recovery and reform efforts through the 12th Malaysia Plan (12MP),” he said.

Some lessons that came to mind on the recovery show that efforts must be made to not only address Covid-19, but also to emerge more resilient post-pandemic.

“Secondly, in pursuing short-term goals to prevent an economic recession, we must also take the opportunity to address structural issues in the medium and longer term. “Lastly, a proper digital infrastructure will be crucial especially in reducing urban-rural inequality,” he said.

The finance minister said the 12MP’s policies, programmes and projects will be aligned to the Sustainable Development Goals of the 2030 Agenda for Sustainable Development.

“Special mention must be made on sustainability. The next five years will see a crucial shift to more sustainable economic practices,” he said.

He added that in the 12MP, one key goal is to achieve a 45% reduction in greenhouse gas emissions intensity to GDP by 2030, compared to 2005 intensity levels.

“The game changers like embracing the circular economy and accelerating the adoption of Integrated Water Resources Management will prove critical.

“Overall, the plan will target growth of between 4.5% to 5.5% per annum, resulting in a gross national income per capita of RM57,882 in 2025, while regaining full employment,” he said.

He said moving forward with the NRP, the upcoming Budget 2022 as well as the 12MP as the country’s guide, the country will allow itself to claim a new narrative.