He said the initiative is aimed at helping local companies, especially Bumiputera firms, and would result in more high-quality jobs for the people.

Anwar said the matter was discussed at Khazanah’s board meeting a few days ago, which looked into the company’s role in national development efforts.

“We also discussed the importance of implementing a sustainable energy transition plan to ensure economic sustainability,” he said in a Facebook post.

Anwar, who is also the finance minister, said the meeting’s main discussion was on investments by Khazanah to strengthen the domestic economic ecosystem, not only for startup companies but also for those that were already successful and required capital for future growth.

He said with Khazanah’s involvement, the initiative could help develop local talent and increase the country’s capability and competitiveness.

Anwar said Khazanah would continue to work with the government through the “Advancing Malaysia” strategy, to be in line with the country’s economic development goals.

He also called for stronger cooperation between the private sector and the government, at the federal, state or local levels.