Bumi Quotas In Strategic Business Locations In Line With Keluarga Malaysia, Says Ismail Sabri
The plan hopes to reduce the economic gap between the Bumiputera community and other ethnic groups.
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Prime Minister Datuk Seri Ismail Sabri Yaakob said the government has proposed quotas for Bumiputera-owned businesses in strategic locations such as shopping malls to increase the community’s participation in the economy.
Ismail Sabri, who’s also the Chairman of the Bumiputera Prosperity Council (MKB) said the quotas will be managed transparently and fairly, and it’s in line with the aspirations of Keluarga Malaysia.
MKB consists of 17 Cabinet Ministers and Bumiputera leaders in business, education and economic sectors.
Here are some of the plans under the Bumiputera Development Action 2030 (TPB2030):
Large scale national projects and asset ownership
During the meeting, issues relating to Bumiputera involvement in large scale national projects such as 5G, Digital Bank, Government-Linked Companies (GLC) and Government-Linked Investment Companies (GLIC) procurement policies and issues relating to low Bumiputera equity were discussed.
According to The Malay Mail, the meeting also discussed the percentage of asset ownership by Bumiputera’s in areas such as housing ownership and commercial premises.
Businesses in strategic locations
According to Ismail Sabri, the number of Bumiputera businesses in prestigious malls and tourist hotspots is still low due to high rental fees and tough competition. Even establishments owned by GLCs struggle with the high rental rates.
To address this, the government intends to review the management of shopping centres owned by GLCs to be managed by local companies.
This is to ensure that local traders, especially Bumiputeras, can run their business there.
Bumiputera companies take 80% from the overall yearly contract cost across all government agencies.
Ismail Sabri said the government is committed to ensure GLCs and GLICs also support the involvement of Bumiputera companies in procurement.
He added that there are ample opportunities for Bumiputera-owned businesses to participate in 5G network development projects.
Bumiputera companies will benefit up to 60% of the estimated project cost for a period of 10 years. Once again, the procurement method will be managed transparently and fairly so that only Bumiputera companies that are eligible on merit will benefit from it.Prime Minister Datuk Seri Ismail Sabri Yaakob
Set up Bumiputera Agenda Empowerment Unit (UPAB)
UPAB will be set up in each Ministry and government agency to coordinate all Bumiputera initiatives, policies, and agendas.
Launch of Bumiputera Development Action 2030
The Bumiputera Development Action 2030 (TBP2030) is scheduled to take place on 6 December in Kuala Lumpur.
TPB2030 was developed based on the essence of the Shared Prosperity Vision 2030 (SPV2030) and supported by the 12th Malaysian Plan (12MP).
The functions and responsibilities of the Bumiputera Agenda Steering Unit (Teraju) will also be strengthened to ensure the Bumiputera agenda continues to be relevant and competitive in the current economic landscape.
Ismail Sabri proposed a similar plan before
Back in 2015, Ismail Sabri was the Rural and Regional Development Minister and he proposed a Malay-only digital mall which was eventually named Mara Digital.
The mall situated within the MARA building at Jalan Tuanku Abdul Rahman in Kuala Lumpur started off quite well.
The government tried to open more malls in the other states but the underwhelming reception and low sales forced the malls to close down.
READ MORE: What Happened To Low Yat’s Contender, Mara Digital Mall?
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