KUALA LUMPUR – The government intends to review the management of malls owned by government-linked companies (GLCs) to ensure that they are managed by local companies and that Bumiputera traders can conduct their business there.
Prime Minister Datuk Seri Ismail Sabri Yaakob said this was because Bumiputera traders were unable to afford business spaces at the malls, even at GLC-owned malls, due to high rental rates and tough competition.
“The government has also taken note that ownership of business spaces at prestigious shopping malls and major tourist destinations among Bumiputera traders is still low,” he said in a statement here today.
He said the matter was decided at the Bumiputera Prosperity Council (BPC) meeting that he chaired via video conferencing yesterday, which was held to discuss efforts to empower and strengthen the socio-economic development of Bumiputeras.
The prime minister said the meeting also proposed for the quota of Bumiputera-owned business premises at strategic locations be fixed in line with the effort to increase competitiveness and strengthen the Bumiputera economy.
“However, the quota will be managed in a fair and transparent manner so the main objective to help qualified and high-potential Bumiputera businesses will be achieved, without being abused to the extent of deviating from the real objective in line with the aspiration of Keluarga Malaysia,” he said.
On Bumiputera participation in government procurement, Ismail Sabri said the meeting was informed that Bumiputera companies have secured 80% of the overall value of government agencies’ annual contracts.
At the same time, he said the government is committed to ensuring that GLCs and government-linked investment companies continue supporting the aspiration of Bumiputera participation in their procurement.
Apart from that, the prime minister said opportunities for Bumiputera companies are wide open in the 5G network system development project undertaken by a wholly government-owned company, through which they would benefit up to 60% from the project’s total estimated value over 10 years of implementation.
“Once again, the procurement will be managed fairly and transparently so only Bumiputera companies qualified by merit will receive the benefits,” he said.
On the Bumiputera asset ownership rate, especially in housing and commercial premises ownership, Ismail Sabri said the government will ensure all housing projects would not just be affordable, but also built at better quality and in strategic locations.
The prime minister said the government has also agreed for the functions and roles of the Bumiputera Agenda Steering Unit (Teraju) to be empowered towards ensuring that the Bumiputera agenda remains relevant and competitive in line with economic development.
For that, he said the government will set up a Bumiputera Agenda Empowerment Unit in every ministry and government agency to coordinate all Bumiputera initiatives, policies and agendas as agreed to by the BPC to improve the governance and delivery of services relating to Bumiputeras.
“Teraju as the BPC secretariat also presented its report on the preparation for the launch of Bumiputera Development Action 2030 (TPB2030) slated for December 6 in Kuala Lumpur.
“Based on the principle of equitability of opportunities and equitability of outcomes, TPB2030 was developed by Teraju based on the gist of the Shared Prosperity Vision 2030, supported by the 12th Malaysia Plan and inclusive of the context of Keluarga Malaysia,” he added. – Bernama, November 18, 2021
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