Outcome of Bumiputera Prosperity Council meeting

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The government has outlined various programmes and initiatives to empower and strengthen the economic and socioeconomic development of the Bumiputera, including in asset ownership.

Prime Minister Datuk Seri Ismail Sabri Yaakob said through the 12th Malaysia Plan (12MP), the government had agreed to build 500,000 affordable housing units for the targeted group, particularly for Bumiputeras.

He said the government would ensure that houses built were not just affordable, but also of more quality and located at a more strategic location.

“The government also takes note that the ownership of business premises among Bumiputeras are still low, such as in prestigious shopping malls and tourist hotspots.

“Although some of these shopping malls were owned by government-linked companies (GLCs), Bumiputera traders are still less able to obtain business space in such premises as the rental rates are too high, apart from competitive factors.


“To address this issue, the government intends to review the management of GLC-owned shopping malls to ensure that they are managed by local companies to ensure that local traders, especially Bumiputeras, can conduct their businesses there,” he said in a statement today.

Ismail Sabri had chaired the Bumiputera Prosperity Council (MKB) meeting last night, held virtually.

The meeting was also attended by Minister in the Prime Minister’s Department (Special Functions) Datuk Dr Abdul Latiff Ahmad, along with other cabinet ministers and Bumiputera business figures.

He said the meeting also recommended that the quota of Bumiputera-owned business premises in strategic locations be established in line with efforts to increase competitiveness and strengthen the Bumiputera economy.

The quota, he said, would be managed in a transparent and fair manner to ensure that the main goal of helping eligible and potential Bumiputera businesses was achieved, without being abused.

Touching on Bumiputera involvement in government procurements, the meeting was notified that Bumiputera companies had procured 80 per cent of the total annual contract value of government agencies.

He added that the government, at the same time, was committed to ensuring that GLCs and government-linked investment companies also supported the aspirations of Bumiputera companies in their procurements.

On 5G connectivity implementation, Ismail Sabri said the meeting was also informed that there were ample opportunities for Bumiputera companies to participate in 5G network system development projects by a wholly-owned government company.

He said Bumiputera companies would benefit up to 60 percent of the total estimated project cost for the 10-year period of its implementation, with the procurement system managed transparently so only Bumiputera companies that qualify based on merit would benefit.

“To improve governance and service delivery of Bumiputera-related mandates and functions, the government will establish a Bumiputera Agenda Empowerment Unit (UPAB) in each ministry and government agency to coordinate all Bumiputera initiatives, policies and agendas as decided at the MKB level.

“Teraju, as the MKB secretariat, also presented the preparations for the launch of the Bumiputera Development Action 2030 (TPB2030) which is scheduled to take place on Dec 6 in Kuala Lumpur,” he added.

Ismail Sabri said based on equitability of opportunities and equitability of outcomes, TPB2030 by Teraju would be based on the essence of the Shared Prosperity Vision 2030, supported by the 12MP.

“The meeting also agreed for the function and role of Teraju to be strengthened in ensuring that the Bumiputera agenda will continue to be relevant and competitive with current economic developments.” – NST