Govt Aims To Boost Bumiputera Companies’ Contribution To GDP Under PuTERA35

August 19, 2024 – PUTRAJAYA –  The government aims to increase the contribution of Bumiputera companies to Malaysia’s gross domestic product (GDP) to 15% by 2035 from 8.1.

The government aims to increase the contribution of Bumiputera companies to Malaysia’s gross domestic product to 15% by 2035 from 8.1% in 2022 under the Bumiputera Economic Transformation Plan 2035.

“There is still room and opportunity for us to reflect and strive to find the best solutions so that the socio-economic status of the Bumiputera community becomes more advanced and prosperous. At the launch, Rafizi said the new direction of Bumiputera economic development – PuTERA35 – is a step to elevate the status and dignity of Bumiputera.

“Last Friday, we heard the message from the honorable prime minister that each of us must have a strong commitment to improve productivity and efficiency, and be ready to implement changes to enhance the country’s competitiveness,” Rafizi said. The government said PuTERA35 does not replace existing development plans but is developed as a continuation of the government’s policies and directions in line with the Madani Economy: Empowering the People, and aligned with the 2030 Sustainable Development Agenda to elevate the dignity and status of the people.

The government pointed to the challenges facing Bumiputeras in making contributions to national socio-economic development. The issues include competitiveness, equity ownership, and success creation, education, talent, institutional and governance weaknesses, and incomplete social protection.

Source: The Sun Daily