Proponents of KWAP's investment strategy argue that diversifying into high-growth sectors like aquaculture technology is essential for the long-term sustainability of the pension fund. In a global economic environment where traditional asset classes often yield lower returns, regional startups like eFishery offer a unique opportunity to capture value from the rapidly digitizing agricultural sector in Southeast Asia. By backing innovative companies, KWAP aims to secure better retirement outcomes for civil servants.
Supporters emphasize that venture capital inherently involves higher risk and longer time horizons compared to government bonds or blue-chip stocks. They contend that the fund's leadership must be allowed the flexibility to explore new markets to remain competitive. If state-linked funds remain overly conservative, they risk failing to keep pace with inflation and the rising costs of pension obligations, which could ultimately harm the very beneficiaries they are meant to protect.
Furthermore, the investment in eFishery is seen as a strategic move to foster regional economic integration. By providing capital to a company that improves food security and efficiency in the aquaculture industry, KWAP is participating in the growth of the broader ASEAN economy. This approach is viewed as a modern, forward-thinking way to manage public wealth while contributing to sustainable development goals in the region.
Ultimately, those backing the investment argue that the MACC investigation should not be interpreted as a sign of wrongdoing. Instead, they suggest that rigorous oversight is a standard part of managing public money. As long as the investment was made through legitimate channels and with a clear business case, the focus should remain on the potential for long-term financial growth rather than short-term market volatility.