‘NEP TO BE REALIGNED TO UPLIFT MALAYS’
Minister says Malays contribute only 8pc to GDP
Most of them (Malays) are grouped in the Bottom 40 group. If we don’t make the changes, nothing will change. DATUK SERI REDZUAN MD YUSOF
Entrepreneur Development Minister
THE new Malay economic policy, which will be formulated to address challenges faced by Malays, will be a realignment of the New Economic Policy launched in 1971.
Entrepreneur Development Minister Datuk Seri Redzuan Md Yusof said the move to introduce the new policy was not to ignore the struggles of non-Malays as they had their schemes to assist them.
He said Malays, despite making up 65 to 68 per cent of the population, contributed only eight per cent to the gross domestic product (GDP).
“Most of them (Malays) are grouped in the Bottom 40 group.
“If we don’t make the changes, nothing will change,” he said after launching the Empowerment, Economic Progress and Growth in New Malaysia Seminar.
Redzuan said things could be improved for Malays through alliances with businesses in other countries, thus increasing their GDP contribution.
On Tuesday, Economic Affairs Minister Datuk Seri Azmin Ali said the new policy would ensure equitable distribution of wealth.
He said the policy would spur inclusivity and the value of fairness, which would contribute to the conceptualisation of shared prosperity among Malaysians.