PUTRAJAYA: Structural economic reforms can improve the Bumiputera socioeconomic status and catalyse Malaysia into a high-income and developed nation, said Economy Minister Rafizi Ramli.
Rafizi also said there is still much space for Putrajaya to find the best solution to ensure that the Bumiputera socioeconomic status is more developed and prosperous.
“The Bumiputera has the opportunity and potential to play a more meaningful role in new sectors and industries that have high-added value, including high-growth-high-value (HGHV) industries,” said Rafizi.
Rafizi was speaking during the launch of the Bumiputera Economic Transformation Plan 2035 (PuTERA35) at Putrajaya International Convention Centre (PICC) on Monday (Aug 19).
According to Rafizi, the launch of the PuTERA35 is a proactive step to uplift the dignity of the Bumiputera based on three cores that are in line with the Madani Economy framework - strengthening the country’s economic foundation; strengthening governance and institutional harmony; upholding social justice,
At the same time, Rafizi said that based on the inclusive spirit, the Unity government is committed to ensuring that the Bumiputera agenda must be prioritised in all national socioeconomic development plans.
“This will not deny the rights of other races and instead, it will benefit all races in the aspect of national development and progress,” added Rafizi.
Rafizi stressed the importance of effective implementations to ensure results under the PuTERA35.
“We can have great plans. But, the most important matter here is the efficiency in implementation to ensure effective outcomes.
“Our hope is that PuTERA35 will foster a new generation of Bumiputera that are more positive, progressive and innovative, where they can also compete not just domestically, but at an international level,” said Rafizi.
Earlier, Rafizi said that the Bumiputera socioeconomic status has improved. Figures show that Bumiputera graduates have increased to 3.8 million individuals in 2022 from 2.7 million in 2016.
The increase of Bumiputera graduates in the workforce, said Rafizi, has also increased from 15.9% in 2016 to 20.4% in 2022.
“But, we must accept the fact that there is still much room and opportunities for the Bumiputra to rise, so they can sit and stand together with our friends from other races, and also compete on the international stage,” added Rafizi.
Based on figures from the Statistics Department, the Bumiputera accounted for 70.4% of 30.7 million citizens, while Chinese and Indians stood at 22.4% and 6.5% respectively.
