GEAR-uP Implementation On Schedule, Investments Expected To Rise End-2026 -- PM Anwar

KUALA LUMPUR, Oct 27 (Bernama) -- The implementation of the GEAR-uP programme remains on schedule, with investments expected to rise towards the end of this year and end-2027, Prime Minister Datuk Seri Anwar Ibrahim said today.

Also known as the Government-linked Enterprises Activation and Reform Programme, GEAR-uP was spearheaded by the Ministry of Finance (MoF) a few years ago.

Anwar, who is also the Finance Minister, said the programme’s first year of implementation involved considerable planning, research and evaluation, with past experiences prompting the parties involved to exercise greater caution in investment-making decisions.

“The GEAR-uP programme is indeed a valid concern, but according to their plans, investments are expected to pick up towards the end of this year and end-2027. Based on the progress outlined in the latest report, I can see that it remains on schedule,” he said during the Prime Minister’s Question Time session in the Dewan Rakyat today.

He was responding to a supplementary question from Syed Saddiq Syed Abdul Rahman (Independent-Muar) on measures to accelerate investment disbursements under the programme and ensure that the funds are not misused.

Anwar also stressed that the government prohibits political figures from interfering in project selection and setting project priorities.

“The projects must be determined by an investment body comprising professionals with the relevant expertise,” he said.

Earlier, responding to an original question from Syahredzan Johan (DAP-Bangi), Anwar said government-linked investment companies (GLICs) have committed RM120 billion in domestic direct investments for the 2024–2028 period, based on their respective priorities and assessments.

This is an additional commitment on top of the existing RM440 billion investments in the domestic public market, he said.

The Prime Minister said the involvement of GLICs, government-linked companies (GLCs) and statutory bodies was to strengthen the domestic economy’s resilience under the MADANI Economy framework.

The strength of the GLICs lies in their approach — much like the projects under GEAR-uP — which considers immediate, medium-term, and long-term priorities, he said.

“For this reason, since 2023 — in line with the 2024–2028 planning framework — GLICs have agreed to commit, based on their own respective priorities and assessments, to making RM120 billion in direct domestic investments between 2024 and 2028,” said Anwar.

GLICs and GLCs’ mandate to generate profit remains in place, while taking into account the national agenda interests, including heritage, the bumiputera community, and the local economy, Anwar said.

-- BERNAMA