KUALA SELANGOR: Universiti Teknologi Mara (UiTM) must position itself as a global TVET entrepreneur university to further strengthen the accomplishments of its graduates in line with the Bumiputera Economic Transformation Plan 2035 (PuTERA35), says Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.
He said UiTM should therefore strengthen its focus on entrepreneurship training to produce graduates who are not only professionally skilled but also able to create jobs.
“The bumiputra unemployment rate, currently at 4%, is higher than the national rate.
“Of the nearly 388,000 unemployed individuals, 70% are youths aged between 15 and 30, the majority of whom are bumiputra.
“This is a major challenge that we must address, but it is also an opportunity for us to rise together.
“We must create jobs, not just seek them.
“That is why, in addressing this issue, I am determined to strengthen the TVET and entrepreneurship agenda in tandem,” he said.
Ahmad Zahid, who is also National TVET committee chairman, said this when speaking at the PuTERA35 Outreach programme here yesterday, reported Bernama.
The Rural and Regional Development Minister said studies by the United Nations Development Programme (UNDP) and the International Labour Organisation (ILO) have shown that entrepreneurship, business and accounting training can help produce more entrepreneurs in the country.
“I am confident that with the support of PuTERA35 through financing, incubation and industry collaboration, UiTM can emerge as a leading TVET entrepreneur hub in the region,” he said.
Ahmad Zahid said the latest data shows that among companies listed on Bursa Malaysia, only 7% are majority-owned by bumiputra.
Of the 945 companies listed as of 2022, only 62 are under more than 50% bumiputra ownership.
He said that over the past four years, only one bumiputra company had successfully been listed, compared with 96 non-bumiputra companies.
“We are not envious, nor are we sowing hatred, but engaging in self-reflection and self-criticism as to why this is happening.
“These figures show a significant corporate ownership gap that must be urgently addressed.
“We must move forward to list more bumiputra companies in Malaysia, and by the end of this year, there will be more companies listed,” he said.
Ahmad Zahid said more bumiputra companies should be listed on the open market so that they can serve as catalysts for others to follow suit.
