Malaysia plans to position Penang as its national technology finance centre under Budget 2027.
Prime Minister and Finance Minister Anwar Ibrahim announced the move during his budget speech.
As part of the initiative, Khazanah Nasional and InvestPenang will establish a RM100 million Strategic Investment Fund to support semiconductor and advanced manufacturing companies in their early stages of growth.
The announcement places Penang’s technology sector at the centre of the government’s plans to expand financing support for high-tech industries.
The government has not provided further details on the fund’s launch date, eligibility requirements or investment structure. – FINTECH NEWS MALAYSIA
