Anwar wants EPF to raise domestic investments to 70pc

·1-min read
Malay Mail
Malay Mail

SUNGAI BULOH, May 8 — Prime Minister Datuk Seri Anwar Ibrahim today urged the Employees Provident Fund (EPF) to increase its domestic investments to 70 per cent this year for the country’s developmental needs.

Anwar, who is also the finance minister, said that EPF's previous year's domestic investments stood at 64 per cent.

“This is for the current needs of the country and taking into account the needs of the people,” he said in his speech while launching the new EPF headquarters at Kwasa Damansara here.

He added that he has been in discussions with EPF and sovereign wealth fund Khazanah Nasional Berhad to increase investments in start-up companies.

“We need a strategic approach, yes, we have in infrastructure such as the implementation of the Plus Expressway and SMART tunnels.

“However, we need an approach that allows our children to participate more in the start-up ecosystem, which is one of the main focuses of the country's investments,” Anwar said.

The new EPF headquarters was completed in June 2022, and more than 2,200 EPF staff have since been moved over from the old headquarters in Jalan Raja Laut Klang.

Kwasa Damansara, the area in which the new headquarters is located, was bought in 2012 by Kwasa Land Sdn Bhd — a subsidiary of EPF — and is currently being developed by the same subsidiary.