RM2Bil Funds Allotted to Facilitate Bumiputra Entrepreneurship: PM

Bumiputra Entrepreneurship
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Datuk Seri Anwar Ibrahim announced that over RM2 billion in funds will be allocated to promote bumiputra entrepreneurship. The Prime Minister highlighted that these funds would encompass a micro-credit scheme targeting small bumiputra vendors, as well as investments from government-linked companies aimed at expanding bumiputra businesses. Additionally, the funds include contributions from an endowment initiated by prosperous bumiputra entrepreneurs and professionals. This initiative is part of the unity government’s efforts to enhance the socio-economic well-being of the bumiputra community.

Anwar made this announcement during the closing speech of the Bumiputra Economic Congress held on Saturday (March 2). In addition to the mentioned funds, Anwar unveiled other initiatives aimed at enhancing the socio-economic status of the community. An endowment fund called Waqaf Madani, seeking to raise RM1 billion from successful bumiputra professionals and entrepreneurs over a decade, will be established. This fund is designed to support bumiputra entrepreneurs and students, as well as provide welfare and healthcare assistance. Anwar noted that contributors to the endowment will receive income tax reliefs, and the Yang Di-Pertuan Agong has agreed to serve as the fund’s patron.

To aid bumiputra youth in securing employment opportunities, the government is collaborating with government-linked companies to train 100,000 Technical and Vocational Education and Training (TVET) workers. These workers will subsequently be placed in jobs offering a minimum monthly wage of RM3,500. Furthermore, to augment the Malay reserve land, 20 hectares from the Bandar Malaysia project in Kuala Lumpur will be allocated for constructing affordable homes for the community. The Madani Affordable Housing Scheme will be expanded to erect 2,500 homes on Malay reserve land across various cities. Anwar stated that Pelaburan Hartanah Berhad and Permodalan Nasional Berhad will be entrusted to oversee commercial projects on Malay reserve land.

The Prime Minister further announced that, effective Saturday, all gifts and souvenirs distributed by the government and its agencies would be procured from bumiputra enterprises nationwide. He highlighted the forthcoming opportunity in 2025 when Malaysia assumes the chairmanship of ASEAN, presenting numerous events that will necessitate such gifts and souvenirs. Additionally, the government will establish the Gig Work Commission aimed at enhancing social protections and contract negotiations for the country’s 1.2 million gig workers, the majority of whom are bumiputra.

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