PUTRAJAYA: One of the main concerns surrounding the Bumiputra Economic Congress 2024 is that it may not be inclusive, along with questions about the execution of its well-intentioned ideas. Tan Sri Noor Azlan Ghazali, a prominent figure at the congress, highlighted the importance of what happens after the event is over. He emphasized the need for action on the findings and proposals discussed during the congress.
Noor Azlan, a former university vice-chancellor with experience in government policies, spoke about the lack of progress despite previous congresses and reports. He stressed the need for concrete steps to be taken following the congress to ensure meaningful outcomes.
Experts and Malay business groups have also raised concerns about the lack of a monitoring mechanism for pro-bumiputra policies, which has hindered the development of a competitive bumiputra commercial class. The current system has not been effective in achieving the desired outcomes despite decades of training programs and funds.
According to data presented at the congress, only 39% of the 1.2 million firms registered with the Companies Commission of Malaysia are bumiputra firms. The scattered nature of programs to assist bumiputra small and medium enterprises (SMEs) across various ministries and agencies has also been highlighted as a challenge.
The unity government made efforts to address these concerns by announcing the establishment of a permanent secretariat at the Rural and Regional Development Ministry to oversee the implementation of initiatives discussed at the congress. Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi stated that another monitoring unit under the Economy Ministry will support the secretariat.
Mara chairman Datuk Asyraf Wajdi Dusuki welcomed the government’s commitment to the bumiputra agenda, particularly with the formation of a Bumiputra Economic Council led by the Prime Minister. He expressed optimism about the government’s seriousness in addressing the economic empowerment of bumiputras.
Despite these reassurances, Noor Azlan’s concluding remarks at the congress highlighted the need for the new entities to effectively institutionalize the bumiputra economic agenda. He emphasized the importance of the agencies responsible for these programs involving experts in further discussions to ensure meaningful progress.
