Bumiputera Economic Council To Monitor PuTERA35 Implementation, Says Ministry of Economy
PUTRAJAYA, Aug 19 (Bernama) — The implementation of the Bumiputera Economic Transformation Plan 2035 (PuTERA35) will be overseen by the Bumiputera Economic Council, which Prime Minister Datuk Seri Anwar Ibrahim chairs.
The Economy Ministry said that integrated and systematic reporting and monitoring will enable more comprehensive assessment and intervention to be taken immediately.
“The role of the Bumiputera Agenda Empowerment Unit in every ministry will also be strengthened. They will be responsible for implementing and monitoring the initiatives at the ministry and agency levels,” it said in a statement today.
The PuTERA35 plan, launched by the prime minister today, is supported by three core areas, 12 growth drivers, and 132 comprehensive initiatives that are bold, visionary and more inclusive to advance Bumiputera development towards making Malaysia a regional economic leader.
The Ministry of Economy said PuTERA35’s strategic steps will involve government-linked companies (GLCs), government-linked investment companies (GLICs) and private companies to benefit the country and the Bumiputera community as well as non Bumiputera minority groups in need without ignoring any parties.
It added that PuTERA35’s implementation could take up to 10 years until 2035.
The Ministry of Economy said the plan’s objectives include developing a Bumiputera community that is dynamic and futuristic, setting clear targets to evaluate Bumiputera economic participation, ownership and empowerment, as well as developing more effective monitoring mechanisms.
It said that the government had targeted Bumiputera’s contribution to gross domestic product to increase from 8.1 per cent in 2022 to 15 per cent in 2035.
“Other targets are Bumiputera participation and empowerment through GLC and GLIC equity to increase from 18.7 per cent in 2020 to 20 per cent in 2035, as well as increasing the percentage of Bumiputera graduates in the labour force from 85 per cent in 2022 to 97 per cent in 2035,” it added.
Source: Bernama