Home Latest Bumiputera Empowerment Agenda Generates RM108 Billion – Najib

Bumiputera Empowerment Agenda Generates RM108 Billion – Najib

KUALA LUMPUR – A total of RM108 billion was generated through all the initiatives under the two Bumiputera Economic Empowerment Agendas until March this year.

The two agendas were the Bumiputera Economic Transformation Roadmap, which was launched in 2011 and the Bumiputera Economic Empowerment in 2013.

Prime Minister Datuk Seri Najib Tun Razak said of the amount, RM80 billion was from business opportunities provided for Bumiputera, especially RM54 billion through the ‘Carve Out and Compete’ policy.

“The best example of Carve Out and Compete, which I want to share (with you), was the success of the first phase of the mega InfraRakyat project, that is along the 51km MRT Sungai Buloh-Kajang.

“For the MRT Phase 1 project alone, of the value of the RM21.2 billion project development package, as much as 51 per cent have been awarded to Bumiputera contractors,” he said when launching the Bumiputera Wellbeing Transformation here today.

He said the Carve Out and Compete policy provided space and opportunities to Bumiputera companies to get contracts and participate in mega projects offered by the government, government-linked companies and the private sector on merits among themselves.

Besides the policy, he said there were many other initiatives introduced under the two agendas such as high-performing Bumiputera companies (Teras), the Facilitation Fund and Yayasan Peneraju Pendidikan Bumiputera.

He said under the Teras programme, 1,014 companies had been given support in the form of capacity building and financing.

“Let me inform you that until March 2017, a total of 306 Teras companies had received funding approvals for the purchase of assets and working capital valued at RM1.3 billion,” he said.

He said through the Facilitation Fund, an incentive to encourage Bumiputera private investment, the prime minister said 469 projects were approved for financing.

Najib said the Bumiputera Economic Empowerment Agenda launched in 2013 brought forth the Bumiputera Economic Council, the Bumiputera Economic Startups Scheme (SUPERB) and the Bumiputera Economic Empowerment Unit.

He said SUPERB, which was allocated an initial capital of RM100 million had helped 125 young people to crystalise their business ideas with total grants worth RM65.5 million provided.

He said these achievements should not stop there, but through the findings of the Bumiputera Economic Transformation Roadmap 2.0 Syndicate Lab, several improvements were recommended and they would be taken into consideration.

Hence, he said the Bumiputera Wellbeing Transformation or TKB resolved to inspire the community and its entrepreneurs to be more enterprising, competitive, creative and innovative and ready to compete globally.

— BERNAMA