PM LAUNCHES BUMIPUTERA DEVELOPMENT ACTION 2030
Plan identifies 7 key areas to create new generation of capable Bumiputera
THE Bumiputera Development Action 2030 (TPB2030) will improve Bumiputera socio-economic status and equity ownership while ensuring the continuity of the New Economic Policy.
Prime Minister Datuk Seri Ismail Sabri Yaakob said the 10-year road map would catalyse development of the Bumiputera ecosystem in tandem with the rapid growth of technology and global development.
“The spirit of TPB2030 revolves around creating a new Bumiputera generation with calibre, guided by good values, self-identity with integrity, (to survive) without crutches, strong independent and competitive in all aspects of efforts and mindset.
“We want a generation that is capable, qualified and recognised so that they can grab opportunities in the country and globally, as well as elevating the Bumiputera as a renowned and honourable group,” he said at the launch in Kuala Lumpur Convention Centre yesterday.
He said the plan outlined clear strategies through development programmes and initiatives in line with the Shared Prosperity Vision 2030 (SPV2030), as well as supported by the 12th Malaysia Plan (12MP).
He said despite being the majority group in the country, with 20.9 million people, or 69.7 per cent of the population, Bumiputeras still needed help, especially to close the income gap as well as low asset ownership.
“TPB2030 has six main targets to be achieved by 2030. They will be realised through seven Key Economic Growth Activities.”
He said these key economic ativities were agriculture and commodities; digital economy; halal and food industries; Islamic finance 2.0; transport and sustainable mobility; manufacturing, and tourism.
The Bumiputera Economic Transformation (Beta) meanwhile covers security and defence, modern construction and aerospace.
Seven priority areas were identified, including expediting Bumiputera socio-economic development; improving administration and delivery service; strengthening education and empowering human capital; improving resilience and competitiveness among Bumiputera businesses, and increasing wealth creation.
Among TPB2030’s aims is to increase gross operating surplus among Bumiputera enterprises to 20 per cent of the gross domestic product, as well as improve the median wage ratio, household income and home ownership, and increase the number of Bumiputera skilled workers.
“The government is committed to enhance efforts to improve participation of Bumiputera enterprises in national large-scale projects and reviewing procurement policies by government-linked companies and government-linked investment companies, as well as addressing issues related to Bumiputera corporate equity that is still far from achieving the 30 per cent target,” Ismail Sabri said.
The government is also studying a mechanism to implement an equity security network.
This, he said, was to ensure shares held by agencies with Bumiputera mandates remained among companies in the group.
He said the mechanism would be fine-tuned to achieve Bumiputera equity and value, which would have an impact on the competitiveness of related agencies in their investments.
“The Bumiputera must be assisted with a more structured new approach. (It is) inclusive from Perlis to Sarawak, up to Sabah.
“As I have previously mentioned, no one will be left behind and forgotten, in line with 12MP’s essence.”
He said the Bumiputera Agenda Steering Unit (Teraju) and other implementers must ensure the highest level of administration standards to improve Bumiputeras’ position through merit and competitiveness.
The prime minister also reminded everyone to draw on lessons from previous Bumiputera programmes that had yet to achieve their objectives.
“In charting TPB2030, an approach suitable with the 21st century must be prioritised so that we won’t again be merely lofty in speeches and on paper, yet fail to realise results that can really change the fate of the Bumiputera in the country.
“The success of the Bumiputera is not solely a Bumiputera Agenda, but will also generate income to the country, as a whole.”
He said the Bumiputera agenda would be driven at the international level by empowering the high-technology sector, improving the quality of graduates in science, technology, engineering and mathematics, and technical and vocational education and training.
The event was organised by Teraju, the coordinating agency for Bumiputera socio-economic development and coordinator of TPB2030.