PUTRAJAYA: Datuk Seri Dr Ahmad Zahid Hamidi stated that the unity government’s focus is on promoting genuine bumiputera and non-bumiputera joint commercial ventures to improve the economic status of the Bumiputra community. He emphasized that the latest economic agenda for the Bumiputra, known as the Bumiputra Economic Transformation (TEB), will not neglect or deny the rights of other communities. This continues the policies that have been in place since the 1970s.
During the opening day of the 2024 Bumiputera Economic Congress, Zahid unveiled the Bumiputra Economic Transformation initiative. He highlighted the economic collaboration between the Bumiputra and non-Bumiputra communities that has been ongoing since the introduction of the New Economic Policy in 1971. Zahid expressed concerns about the authenticity of these relationships, particularly in regards to certain commercial partnerships referred to as “Ali-Baba”.
The term “Ali-Baba” describes arrangements where Bumiputras, known as “Ali”, lease or sell business licenses, permits, and contracts meant for the Bumiputra community to non-Bumiputras, known as “Baba”. Zahid emphasized that the TEB aims to eradicate such ventures that are essentially “Bumiputra in name only”. He stressed the importance of promoting genuine collaboration between Ali and Baba in business operations.
Zahid highlighted the negative impact of Ali-Baba practices on the government’s efforts to increase Bumiputra participation in the economy. He expressed the government’s disapproval of individuals manipulating opportunities for quick profits, as this does not reflect true wealth and ownership. Zahid underscored the government’s commitment to ending Ali-Baba practices through the implementation of the Bumiputra Economic Transformation plan.
He assured that while the government focuses on empowering the Bumiputra community, the rights of other communities will not be sidelined. Zahid pointed out that past government initiatives to empower the Bumiputra have not marginalized other communities, and the same principle will apply to the Bumiputra Economic Transformation plan. He reiterated the government’s commitment to preserving the rights of all communities in Malaysia.
