Minister: Bumiputera Development Action 2030 to drive govt’s Bumiputera agenda for next 10 years

Minister in the Prime Minister’s Department Datuk Seri Mohd Redzuan Md Yusof speaks to reporters at the Parliament building August 10,2020. — Picture by Ahmad Zamzahuri
Minister in the Prime Minister’s Department Datuk Seri Mohd Redzuan Md Yusof speaks to reporters at the Parliament building August 10,2020. — Picture by Ahmad Zamzahuri

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KUALA LUMPUR, Jan 26 — The Bumiputera Prosperity Council (MKB) has endorsed a sustainable set of Bumiputera development policies, strategies and initiatives through the tabling of a new direction for the next decade, contained in the Bumiputera Development Action 2030 (TPB2030).

This blueprint is based on equitable opportunities and equitable outcomes that are based on the essence of the Shared Prosperity Vision 2030 (SPV 2030).

The meeting today has also endorsed the establishment of MKB and two committees under the council in the aspects of membership as well as terms of reference, namely the Bumiputera Prosperity Driving Council Committee (JPMKB) which will be chaired by Minister in the Prime Minister’s Department (Special Functions) Datuk Seri Mohd Redzuan Md Yusof, and the Bumiputera Prosperity Working Council Committee (JKMKB) to be chaired by Bumiputera Agenda Steering Unit (TERAJU) chief executive officer Md Silmi Abd Rahman.

Mohd Redzuan said among the main actions to be addressed under the TPB2030 is to reduce the economic gap between the Bumiputera community and other ethnic groups.

“The Bumiputera equity shareholding in the corporate sector stood at only 16.2 per cent in 2015 compared with non-Bumiputera at 30.7 per cent and foreign holdings of 45.3 per cent.

“Even though the mean gross household income for Bumiputera has increased from RM6,267 in 2016 to RM7,093 in 2019, it is still far behind compared with the achievement by other ethnic groups,” he said in a press conference today.

He said the spread of the Covid-19 pandemic has caused a significant adverse impact particularly on the Bumiputera community’s economy and income.

TERAJU has been appointed as the secretariat and Working Committee to the meeting which has a huge mandate in driving and empowering, and implementing the important Bumiputera agenda.

Hence, the formation of the MKB is to focus on and resolve issues and tackle current challenges during the course of implementing the Bumiputera agenda in order to create an ecosystem wherein the Bumiputera community has equitable opportunities in the economy.

In making the objective a reality, through TPB2030, TERAJU will identify six priority sectors, namely service delivery, human capital, wealth ownership, entrepreneurship, corporate equity, and Malay reserved/waqaf/customary land.

Besides that, there are seven Key Economic Growth Activities comprising high-value economic sectors such as Islamic finance; digital economy; logistics, transportation and sustainable mobility; tourism; agriculture and commodity; halal food; as well as manufacturing.

These high-value key activities and economic sectors have been identified to achieve six targets by 2030, namely to achieve median household income of RM18,403; median salary/wage of RM5,169 and per capita financial assets of RM4,496.

The other targets are contribution of Gross Operating Surplus Bumiputera Enterprise to the Gross Domestic Product (GDP) in 2030 of RM680 billion; involvement of Bumiputera in skilled jobs (inter) of 3.2 million jobs; and house ownership by Bumiputera (intra) of 5.9 million units.

The targets can be achieved by the implementation of projects and initiatives through strategic collaborations between the government and the private sector and financed by both public and private funds.

MKB will consist of 17 Cabinet Ministers and Bumiputera luminaries in business, education and economic sectors. — Bernama 

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