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Govt aims to have Bumiputera holding 70% of high-skilled jobs, 30% equity ownership by 2035
PUTRAJAYA (Aug 19): The Malaysian government has set ambitious targets under the newly launched Bumiputera Economic Transformation Plan 2035 (PuTERA35), aiming to significantly increase Bumiputera participation in high-skilled jobs and equity ownership over the next decade.
PuTERA35, launched by Prime Minister Datuk Seri Anwar Ibrahim on Monday, outlines the governmentโs goal is to have 70% of the countryโs high-skilled jobs be occupied by the Bumiputera, up from 61% in 2022.
The plan also seeks to raise Bumiputera equity ownership, both by individuals and through Bumiputera-mandated agencies, from 18.4% in 2020 to 30% by 2035.
On top of that, PuTERA35 aims to lift the contribution of Bumiputera companies to the countryโs gross domestic product (GDP) to 15% in 2035, from 9.1% in 2022.
(From left) Chief Secretary to the Government Datuk Seri Shamsul Azri Abu Bakar, Deputy Prime Minister I Datuk Seri Ahmad Zahid Hamidi, Prime Minister Datuk Seri Anwar Ibrahim, Minister of Economy Rafizi Ramli and Deputy Minister of Economy Datuk Hajjah Hanifah Hajar Taib. (Photo by Shahrin Yahya/The Edge)
These targets are central to the governmentโs broader strategy of fostering more meaningful economic participation, ownership, and control by the Bumiputera community, positioning them to better navigate the countryโs evolving economic landscape.
Anwar commented that the countryโs pace of development should be accelerated without leaving anyone behind.
โThe idea is that the economic development should be done with the participation of all people without marginalising any ethnicity, tribe or territory across the country,โ the prime minister said, assuring that PuTERA35 will not set aside the interests of other races in the country.
โThe Bumiputera-related policy in Malaysia is always an affirmative policy to think and reflect on the situation of injustice, but never to set aside the interests of Indians, Chinese, let alone the Orang Asli or the Bumiputera of Sabah and Sarawak,โ he added.
PuTERA35 encompasses three core areas, 12 growth drivers and 132 initiatives to advance and empower Bumiputera development towards making Malaysia a regional economic leader.
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