KUALA LUMPUR: The government intends to review the management of shopping malls owned by government-linked companies (GLCs) to ensure they are managed by local companies so that bumiputra traders can conduct their businesses there.
Prime Minister Datuk Seri Ismail Sabri Yaakob said this was because bumiputra 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 of the still low ownership of business spaces at prestigious shopping malls and major tourist destinations among bumiputra traders,” he said in a statement yesterday, according to Bernama.
Ismail Sabri said the matter was decided at the Bumiputra Prosperity Council (MKB) meeting which he chaired via video conferencing on Wednesday, to discuss efforts to empower and strengthen the socio-economic development of bumiputra.
The Prime Minister said the meeting also proposed for the quota of bumiputra-owned business premises at strategic locations be fixed in line with the effort to increase competitiveness and strengthen the bumiputra economy.
“However, the quota will be managed in a fair and transparent manner so that the main objective to help qualified and high-potential bumiputra businesses will be achieved,” he said.
On the bumiputra participation in government procurement, Ismail Sabri said the committee was informed that bumiputra companies had secured 80% of the overall value of government agencies’ annual contracts.
At the same time, he said, the government was committed to ensuring that the GLCs and government-linked investment companies (GLICs) continued to support the aspiration of bumiputra participation in their procurement.
Apart from that, the Prime Minister said the opportunity for bumiputra companies was wide open in the 5G network system development project undertaken by a wholly-owned government company where they would benefit up to 60% from the project’s total estimated value for 10 years of implementation.
On bumiputra asset ownership rate, especially in the aspect of housing and commercial premises ownership, Ismail Sabri said the government would ensure that all housing projects would not just be affordable, but would also be built with quality in mind and at strategic locations.
Ismail Sabri said the government also agreed that the Bumiputra Agenda Steering Unit (Teraju) be empowered to ensure that the agenda remains relevant and competitive in line with the economic development.
For that, he said, the government would set up a Bumiputra Agenda Empowerment Unit in every ministry and government agency to coordinate all bumiputra initiatives, policies and agenda as agreed to by the MKB to improve governance and delivery of services relating to the bumiputra.
“Teraju as the MKB secretariat also presented their report on the preparation for the launch of the Bumiputra Development Action 2030 (TPB2030) slated for Dec 6 in Kuala Lumpur,” he said.
TPB2030 is developed by Teraju based on the Shared Prosperity Vision 2030, supported by the 12th Malaysia Plan that is inclusive in the context of Keluarga Malaysia, he added.
Meanwhile, US Secretary of Commerce Gina Raimondo paid a courtesy call on Ismail Sabri at his office at the Parliament building.
In a post on his Facebook page, the Prime Minister stated that the meeting, held yesterday, revolved around the potential development of cooperation as well as opportunities to explore new avenues that would benefit trade between Malaysia and the United States.
This is the first official visit to Malaysia for Raimondo after being elected to serve as US President Joe Biden’s secretary of commerce in charge of a sprawling department that works to promote job creation and economic growth across the United States.