Posted on May 9, 2012, Wednesday
JOHOR BAHARU: The goverment is confident of achieving the target of 30 per cent Bumiputera equity ownership by 2020 despite the current global economic uncertainty, says Tan Sri Nor Mohamed Yakcop.
The Minister in the Prime Minister’s Department said yesterday the confidence is based on growing demand for Malaysian products in China and India, as well as on the government’s economic transformation programmes and policy.
He was speaking to reporters at a media conference after launching the Bumiputera Corporate Entrepreneur Development programme jointly held by the Bumiputera Agenda Coordinating Unit (Teraju), Majlis Amanah Rakyat (Mara) and Johor Corporation (JCorp) at the Persada International Convention Centre here.
It was the first such collaboration between two federal government agencies and a state investment body to develop high performance Bumiputera entrepreneurs capable of competing in bigger markets. The three parties signed a memorandum of understanding on Nov 26 last year.
The event was also attended by state entrepreneur and cooperative development, education and higher education committee chairman Datuk Maulizan Bujang and JCorp president and chief executive Kamaruzzaman Abu Kassim.
Malaysia’s exports to China and India have been pushed up by demand from the rapidly growing middle classes in the two countries, Nor Mohamed said, adding Malaysia has also become a destination of choice for tourists from the two Asian giants.
The government, he said, is also not too dependent on exports but also focuses on domestic demand as part of efforts to ensure more Bumiputera firms are listed on Bursa Malaysia through the Skim Jejak Jaya Bumiputera, a Finance Ministry scheme that tracks the success of Bumiputera companies.
At the function, Nor Mohamed presented cheques to five intrapreneurs selected for the first phase of a nearly RM2.5 million financing scheme.
— Bernama
