Shared Prosperity Vision to raise Bumiputera’s participation in high-value contracts

Prime Minister Tun Dr Mahathir Mohamad (centre) arrives at the launch of Shared Prosperity Vision 2030 in Kuala Lumpur October 5, 2019. ― Picture by Hari Anggara
Prime Minister Tun Dr Mahathir Mohamad (centre) arrives at the launch of Shared Prosperity Vision 2030 in Kuala Lumpur October 5, 2019. ― Picture by Hari Anggara

KUALA LUMPUR, Oct 5 ― Various initiatives will be implemented to increase Bumiputera’s participation in government procurement, particularly in high-value and high-impact contracts.

According to the Shared Prosperity Vision 2030 (WKB2030) Book, special emphasis will be placed on the creation of high-income jobs for Bumiputera.

Meanwhile, the private sector and government-linked companies (GLCs) should play a significant and proactive role in ensuring equitable Bumiputera’s achievements in line with policies, strategies and initiatives developed under the vision.

“These measures include improving policies and practices in the hiring and procurement of the private sector so that no form of discrimination occurred against Bumiputera,” the book said.

The WKB book was authored by the Ministry of Economic Affairs and launched by Prime Minister Tun Dr Mahathir Mohamad today.

Based on economic data, Bumiputeras are at a disadvantage in terms of wealth acquisition and income and are most affected by the economic gaps.

In addition, Bumiputera accounts for 71.3 per cent of the nation’s bottom 40 per cent of the household income group (B40), while the industries involving the community are mostly that of low value-added.

According to the WKB Book, the issue of monopoly in the supply chain will be addressed so as not to jeopardise Bumiputera's opportunity to compete in a healthy manner in business and entrepreneurship.

Development policies and strategies in major urban areas also need to take into account of Bumiputera's ability to own properties in the areas so as not to be left out of the mainstream of national development.

Likewise, rural economic centres need to be strengthened to boost the economy and create new jobs.

In addition, economic development should focus on less developed states with high Bumiputera population. The states include Perlis, Kedah, Kelantan, Terengganu, Sabah and Sarawak.

Rapid development in the states will indirectly provide more economic and employment opportunities to Bumiputera.

The book said Bumiputera’s achievements must be prioritised and systematically applied in each core strategy and capability to achieve WKB goals.

“In this regard, the Bumiputera community need to take the initiative to drastically change their mindset and attitude by showing strong commitment to increasing their productivity,” the book said.

In an effort to enhance Bumiputera’s achievements, the issues of integrity, leakage, corruption and economic sabotage need to be dealt with holistically and firmly without fear and favouritism.

To determine Bumiputera’s achievements, the implementation of WKB's policies, strategies and initiatives will be monitored and evaluated systematically and carefully based on periodic achievements at regular intervals in the 12th and 13th Malaysia Plans. ― Bernama

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