KUALA LUMPUR: The Bumiputera Development Action 2030 (TBP2030) will chart the way forward in improving Bumiputera socio-economic status and equity ownership while ensuring the continuity of the New Economic Policy (NEP) and agenda for the group.
Prime Minister Datuk Seri Ismail Sabri Yaakob said the 10-year roadmap will serve as a catalyst to the rapid development of the Bumiputera ecosystem in tandem with the rapid growth of technology and global development.
"The spirit of TBP2030 revolves around creating new Bumiputera generation with calibre, guided by good values, self-identity with integrity, (survive) without crutches, strong independent and competitive in all aspects of efforts and mindset.
"We want a generation who is capable, qualified and recognised so that they could grab opportunities in the country and globally, as well as elevating the Bumiputera as a renowned and honourable group," he said at the launch of TBP2030 today.
He said the plan outlined clear strategies through development programmes and initiatives in line with the Shared Prosperity Vision 2030 (SPV2030), as well as supported by the 12th Malaysia Plan (12MP), encompassing the context of the 'Malaysian Family'.
He said despite being the majority group in the country with 20.9 million people or 69.7 per cent of the population, the Bumiputera was at a level that needed improvement, especially on gaps in wealth and income as well as low asset ownership.
"In general, TPB2030 identified six main targets to be achieved by 2030.
"They will be realised through seven Key Economic Growth Activities (KEGA)," he said.
He said KEGA comprised agriculture and commodity; digital economy; halal and food; Islamic finance 2.0; transportation and sustainable mobility, production as well as tourism.
The Bumiputera Economic Transformation (BETA) meanwhile covers security and defence; modern construction and aerospace.
Seven priority areas (PA) were identified, including expediting Bumiputera socio-economic development; improving administration and delivery service; strengthening education and empowering human capital; improving resilience and competitiveness among Bumiputera businesses; and increasing wealth creation for the Bumiputera.
TBP2030 among others aimed at increasing Gross Operating Surplus (GOS) among Bumiputera enterprises to 20 per cent of the Gross Domestic Product, as well as improving the median wage ratio, median household income, home ownership and increasing the number of skilled workers among the Bumiputera.
"The government is committed to enhancing efforts to improve participation of Bumiputera enterprises in national-level large scale projects and reviewing procurement policies by government-linked companies (GLC) and government-linked investment companies (GLIC), as well addressing issues related to Bumiputera corporate equity that is still far from achieving the 30 per cent target set," Ismail Sabri said.
Hence, the government is also studying a mechanism to implement the equity security network (ESN), he said.
This, he added, was to ensure shares held by agencies with Bumiputera mandates remain among companies in the group category.
He said the mechanism will be fine-tuned to achieve Bumiputera equity and value which will have an impact on the competitiveness of related agencies in their investment dealings.
"The Bumiputera must be assisted with a more structured new approach. (It is) inclusive from Perlis to Sarawak, up to Sabah, including Bumiputera minority groups.
"As I have previously mentioned, no one will be left behind and forgotten, in line with 12MP's essence."
He said the Bumiputera Agenda Steering Unit (Teraju) and other implementers must ensure the practise of a highest level of administration and standards are emphasised to improve Bumiputera's position through merit and competitiveness.
The prime minister also reminded everyone to draw on lessons from previous Bumiputera programmes that have yet to achieve their original objectives.
"In charting TBP2030, an approach suitable with the 21st century must be prioritised so that we won't once again be merely lofty in speeches and on paper, but fail to realise results that can really change the fate of the Bumiputera in the country.
"The success of the Bumiputera is not solely of the Bumiputera Agenda, but will also generate income to the country as a whole."
He said the country would also drive Bumiputera agenda at the international level, through empowering high-technology sector, improving the quality of graduates of science, technology, engineering and mathematics (STEM) and technical and vocational education and training (TVET).
The event was organised by Teraju, the principal coordinating agency for Bumiputera socio-economic development and coordinator of TBP2030.