PuTERA35 Engages GLCs, GLICs, And Private Sector To Strengthen Bumiputera Economy

KUALA LUMPUR, Nov 25 (Bernama) -- The Bumiputera Economic Transformation Plan 2035 (PuTERA35) introduces substantial improvements over previous initiatives, emphasising inclusive participation from government-linked companies (GLCs), government-linked investment companies (GLICs), and the private sector.

Deputy Economy Minister Economy Datuk Hanifah Hajar Taib highlighted the plan’s key improvements during the minister's question time in the Dewan Rakyat today. 

These include the establishment of Bumiputera Agenda Empowerment Units in all ministries to oversee and ensure effective implementation and monitoring of PuTERA35’s objectives.  

“Secondly, the PuTERA35 Dashboard has been developed to enable systematic monitoring and evaluation of outcomes up to 2035,” she said.

Hanifah said this in response to a question from Tan Sri Muhyiddin Yassin (PN-Pagoh) regarding the government's efforts to ensure the effectiveness of the new direction for Bumiputera economic development under PuTERA35, which continues the Bumiputera Development Action 2030 and the Shared Prosperity Vision.

She also noted that PuTERA35 emphasises targeted support for Bumiputera communities in Sabah and Sarawak, Orang Asli populations, and economically disadvantaged non-Bumiputera minority groups.  

“This plan adopts a more comprehensive approach, aiming to uplift the Bumiputera community across various socioeconomic dimensions rather than focusing solely on equity ownership,” she said.

Addressing an additional query from Muhyiddin regarding the strategy to achieve the target of a 15 per cent contribution from micro, small and medium enterprises to the national economy, Hanifah said that PuTERA35 prioritises high-potential sectors to create opportunities for Bumiputera in high-value industries supported by the government.

"The main focus is on high growth, high-value industries, including digital, electronic and electrical technology, modern agriculture, agro-based industries and halal industries.

"Additionally, Islamic finance, logistics, tourism, care services, and venture and private equity models receive special attention," she added.

She added that the plan is structured into three phases, accounting for the complexity of each sector to ensure effective implementation and provide maximum benefits to the Bumiputera community.

-- BERNAMA