PUTRAJAYA, Aug 19 — The Unity Government is committed to ensuring the Bumiputera agenda is prioritised in socio-economic development plans, said Economy Minister Rafizi Ramli.
He said this will not deny the rights of other races; instead it will benefit all races in terms of the development and progress of the country.
“There are still various issues plaguing bumiputera today, such as their socio-economic status — still stuck in the middle class — as well as Bumiputera economic participation concentrated in activities that have low added value,” he said at the launch of the Bumiputera Economic Transformation Plan 2035 (PuTERA35) today.
He said this has indirectly caused the income and wealth gap between ethnic groups to widen.
“In this case, a main factor is the inability of Bumiputera to contribute more meaningfully to the national economy.
“The government’s desire to create a Bumiputera trade and industrial society has not been fully achieved,” he said.
He said Bumiputera companies are seen as having less ability to create value and expand business when most of these companies are small.
“Limited capital and support at the initial stage, especially for startups, are also factors in this issue, which in turn causes continued dependence on grants and government funding.
Rafizi said PuTERA35 is a proactive step to raise the rank and dignity of Bumiputera.
“This plan envisages three cores that are in line with the Madani Economy — first, strengthening the country’s economic pillars; second, strengthening governance and institutional harmony; and third, upholding social justice,” he said.
— Bernama
