KUALA LUMPUR – The ability of Malay youth to climb the social mobility ladder has yet to reach the optimum level, according to Youth and Sports Minister Khairy Jamaluddin.
He said according to the survey report released by Khazanah Research Institute (KRI) last month, Malay youth were still at second place in most category indicators despite the increase in the income of Malay households.
“Despite the many initiatives taken by the government to improve the Malay economy, we are still lagging behind our Chinese partners as 90 per cent of their new generation had improved in terms of economic strata, compared to our 73 per cent.”
He said this in his speech at the prize-giving ceremony of the Biz Challenge 2016 organised by Perbadanan Usahawan Nasional Bhd (PUNB) here today.
Khairy said in terms of skills, the report said only one-fourth or 25 per cent of Malay youth with low-skilled parents were capable of improving themselves and become high-skilled professionals compared to 40 per cent of Chinese youth.
“We have to produce Malay youths who will not feel content with just working from 8am to 5pm daily and receive their salary at the end of the month, but to work 60-70 hours weekly and generate their own income,” he said.
The minister said Bumiputera entrepreneurs should also make a paradigm shift in their businesses so that their wealth could be expanded in line with the nation empowerment goal.
“If Bumiputera entrepreneurs want to spread their wings outside Malaysia, their products should be fully up to date and optimised with technology,” he said.
At the event, young entrepreneur Hanis Bahaman bagged the main prize and cash of RM100,000, a trophy and PUNB business funding worth RM1 million. – BERNAMA