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Prime Minister Datuk Seri Ismail Sabri Yaakob delivers his speech at the launch of the National Unity Action Plan at the Kuala Lumpur Convention Centre November 28, 2021. — Picture by Hari Anggara
Prime Minister Datuk Seri Ismail Sabri Yaakob delivers his speech at the launch of the National Unity Action Plan at the Kuala Lumpur Convention Centre November 28, 2021. — Picture by Hari Anggara

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KUALA LUMPUR, Dec 6 — The government is committed to increasing the involvement of Bumiputera businesses in large-scale national projects, Prime Minister Datuk Seri Ismail Sabri Yaakob said.

He said the government is also committed to reviewing procurement policies imposed by government-linked companies (GLCs) and government-linked investment companies (GLICs), as well as issues related to Bumiputera corporate equity which is still far below the 30 per cent target.

“In this regard, the government is reviewing the Equity Safety Net (ESN) mechanism to ensure that shares held by Bumiputera-mandated agencies remain in the Bumiputera group of companies.

“This mechanism will be fine-tuned in order to achieve Bumiputera equity and value without giving too much impact on the competitiveness of the relevant agencies in their investment affair,” he said in his speech at the launch of the Bumiputera Development Action 2030 (TPB2030) here today.

Ismail Sabri said although Bumiputera is the majority racial group in the country at 20.9 million, or 69.7 per cent of the population, the socio -economic status of Bumiputeras is at a level that still needed improvement, especially in terms of the wealth gap, income gap and low asset ownership.  — Bernama

 


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