The funds, managing a combined RM1.8 trillion in assets, will put money into industries such as energy transition and advanced manufacturing in the semiconductor space, the ministry said in a statement today.

The six firms that have pledged to make the investments include Khazanah Nasional Bhd, Permodalan Nasional Bhd, Retirement Fund Incorporated and EPF, the ministry added.

In the statement, Prime Minister Anwar Ibrahim said the investment firms have “the financial capacity to effect the nation’s ascent in the economic value chain”.

The plan will be on top of the RM440 billion of investments that the state funds have already made in public markets, the ministry said.

Separately, the National Trust Fund, which is currently funded by Petroliam Nasional Bhd or Petronas, will be strengthened with new sources of contributions to retain the wealth of future generations, according to the ministry.

Malaysia’s policymakers have this year encouraged state-linked firms and funds to repatriate their overseas income to help shore up the ringgit after it slumped to a 26-year low in February.

The local currency rose 0.8% against the dollar to trade near the strongest level since April 2023 on Thursday.