need to be taken to enhance their competitiveness.
“The TPPA will provide opportunities and challenges to all, not just Bumiputeras. But we need to find more agressive strategies to make the TPPA a platform to enable Bumiputera entrepreneurs to compete internationally," said Chief Executive Officer Datuk Husni Salleh.
He said the carve-out policy should be expanded to enable competitive and high-performing companies to benefit from the TPPA.
“We need to be more aware of the opportunities not only in the country but also abroad, as many Bumiputera firms focus solely on the domestic market," he said at the briefing on TERAJU's Bumiputera Economic Empowerment Fund Report Card 2015 here today.
The report was launched by Prime Minister Datuk Seri Najib Tun Razak prior to delivering the President's address in conjunction with the UMNO General Assembly 2015 which starts today.
Husni said the cost-benefit analyses on the TPPA by PriceWaterHouseCoopers and Institute of Strategic and International Studies Malaysia (ISIS) show the opportunities provided by the TPPA override the challenges.
“We also need to focus on raising Bumiputeras' exports, as less than 10 per cent of Bumiputera firms export or have foreign joint venture partners.
“The issue is not about the TPPA, but about their lack of capacity," he said, adding existing incentives could help make Bumiputera firms more competitive and give them wider exposure.
“Through the High Performing Bumiputera Companies (TeraS) programme, many companies have penetrated overseas markets, so we want all Bumiputera firms to be in the scheme.
“We have not finalised the issue of goverment-linked companies and government-linked investment companies under the TPPA's state-owned enterprise (SOE) chapter," he said, adding the findings of a study on Khazanah Nasional are expected to be tabled in January. — Bernama
