Khazanah Nasional Bhd is actively pursuing strategic partnerships with France and Italy’s sovereign wealth funds to strengthen cross-border collaboration in artificial intelligence (AI) and innovation. The discussions took place during a recent diplomatic and trade mission across Europe and South America, led by Prime Minister Datuk Seri Anwar Ibrahim.
Managing Director Datuk Amirul Feisal Wan Zahir confirmed that a series of high-level meetings had been held with Cassa Depositi e Prestiti of Italy and Bpifrance, France’s public investment bank, with a focus on building synergies between Malaysian, French and Italian companies. The initiative aims to align with the shifting global geopolitical landscape by fostering cooperation in technology and innovation.
“We explored opportunities to collaborate, particularly in tech innovation and among mid-tier companies in our respective countries. There is a shared recognition that we face similar challenges — how to become globally competitive through AI and innovation, and how to access new markets,” he said during a media briefing in Brazil at the conclusion of the Prime Minister’s official visits.
Khazanah has maintained an ongoing partnership with Cassa Depositi e Prestiti for the past two years and with Bpifrance for three years. These relationships are being leveraged to deepen technological cooperation and foster sustainable economic growth.
The mission, which began on 1 July, included visits to Rome, Paris and Rio de Janeiro. It was part of a broader effort to strengthen diplomatic ties and economic cooperation with key international partners. Khazanah was among several major Malaysian corporations represented on the delegation, including Petroliam Nasional Bhd (Petronas), Tenaga Nasional Bhd (TNB), Malayan Banking Bhd (Maybank), FGV Holdings Bhd and YTL Power International Bhd.
Bilateral trade between Malaysia and the three countries — Italy, France and Brazil — totalled RM50.91 billion in 2023, reflecting the growing importance of these relationships.
Khazanah reported its strongest financial performance to date in 2024, delivering a net asset value time-weighted rate of return of 24.6%, a significant increase from 5.7% the previous year. The sovereign wealth fund’s total portfolio, or realisable asset value, rose to RM151.3 billion.
-Bernama
