Govt committed to ensure bumiputera agenda gets priority in socioeconomic development — Rafizi
August 19, 2024 – PUTRAJAYA — The Unity Government is committed to ensuring that the bumiputera agenda continues to be prioritised in every national socio-economic development plan, said Economy Minister Rafizi Ramli (picture).
He said this will not deny the rights of other races; on the contrary, it will be able to benefit all races in terms of the development and progress of the country.
Rafizi said there is still plenty of room and opportunity for bumiputera to rise to be level in economic status as their friends from other races, and even compete on the world stage.
“There are still various issues plaguing bumiputera today, such as the socioeconomic status that is still stuck in the middle class as well as bumiputera participation that is concentrated in economic activities that have low added value,” he said during the launch of the Bumiputera Economic Transformation Plan 2035 (PuTERA35) today.
He said this has indirectly caused the income and wealth gap between ethnic groups to widen.
“In this case, one of the main factors is related to the inability of bumiputera to contribute more meaningfully to the national economy.
“The government’s desire to create a bumiputera trade and industrial society has not been fully achieved,” he said.
He said bumiputera companies are seen as having less ability to create value and expand business when most of these companies are micro and small in sizes.
“Limited capital and support at the initial stage, especially start-up companies, are also factors in this issue which in turn causes continued dependence on grants and government funding.
On PuTERA35, Rafizi said it was a proactive step to raise the rank and dignity of bumiputera.
“This plan envisages three cores that are in line with the MADANI Economy, namely first, strengthening the country’s economic pillars; second, strengthen governance and institutional harmony; and third, uphold social justice,” he said.
Source: BERNAMA