Anwar announces RM1 bil allocation for ‘new generation’ Bumiputera entrepreneurs

THE GOVERNMENT will allocate funds amounting to RM1 billion to produce a new generation of Bumiputera entrepreneurs in high-growth fields that will be supported by government-linked investment companies (GLICs), said Prime Minister Datuk Seri Anwar Ibrahim.

He said the funding is in line with the requests and recommendations that were put forward during the three-day Bumiputera Economic Congress 2024 which began on February 29.

Anwar, who is also the finance minister, cited as an example the creation of successful Bumiputra entrepreneurial companies such as Aerodyne that has managed to penetrate the global market in drone services.

"We should also be proud of the success of Les Copaque and Animonsta which have excelled in the creative industry.

“So are the successes of many young entrepreneurs who have taken full advantage of new digital technologies to undertake businesses, such as Khairul Aming (a technopreneur)," he said in his speech at the closing of the congress in the Putrajaya International Convention Centre today.

Anwar also announced the creation of the Mara Madani Waqf Fund, supported by an initial grant of RM100 million, aiming to achieve accumulated funds amounting to RM1 billion within two years.

He said His Majesty Sultan Ibrahim, King of Malaysia, has consented to become the patron of the waqf system, and the progress of this initiative will be reported to the Conference of Malay Rulers.

Anwar said the waqf system will be spearheaded by Majlis Amanah Raya (Mara) and implemented by Mara Education Foundation.

“The Mara Madani Waqf will benefit 70.1 percent of the Bumiputera population, ensuring access to education, welfare, health, entrepreneurship, and transportation, which are increasingly crucial in this new era," he was quoted as saying by Bernama. 

"The government has also agreed to extend tax deductions for stock-based waqfs such as the ASNB Waqf (Amanah Saham Nasional Bhd Waqf) and Waqaf An-Nur under Johor Corp," he stated.

"The government has also agreed to extend tax deductions for stock-based waqfs such as the Amanah Saham Nasional Bhd (ASNB) Waqf and Waqaf An-Nur under Johor Corp," he said.

As for unutilised waqf lands, Anwar highlighted that the Madani Budget 2024 has allocated a financing fund of RM500 million as an incentive for the development of waqf lands to generate sustainable income and provide affordable housing. – The Vibes, March 2, 2024