New government plan to address employment, land, and food-growing technology
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi announced that affordable haemodialysis treatment and care for senior citizens will be provided as part of a national endowment (waqaf) to assist low-income bumiputra individuals. This initiative also aims to support bumiputra youth in gaining access to education and technical skills training.
The national endowment is one of the three key commitments in the government’s new economic agenda for the community, which was revealed at the Bumiputra Economic Congress 2024. Another component of the Bumiputra Economic Transformation (TEB) is the establishment of a dedicated entity to increase ownership and management of bumiputra lands.
Ahmad Zahid mentioned that a significant portion of agricultural land larger than 50 acres or industrial plots exceeding 20 acres will be returned to the government upon lease renewal, with these properties then managed by the bumiputra land corporation.
Furthermore, the government aims to enhance bumiputra involvement in the industrialization of the food-growing sector to strengthen the country’s food security. Ahmad Zahid expressed confidence that these commitments will advance the bumiputra empowerment agenda over the next decade.
The TEB is a continuation of efforts to elevate the socioeconomic status of the bumiputra community that originated in the 1960s and is part of the overarching Madani Economic Framework of the unity government. The three pledges are integral components of the TEB, which includes three goals and six commitments.
Under the first goal of socioeconomic justice, the government aims to ensure that the bumiputra community does not lag behind in professional, educational, and commercial achievements. Currently, only 29% of bumiputra individuals are classified as skilled workers.
The second goal of the TEB is to enhance the adaptability and dynamism of bumiputra businesses to navigate various challenges such as geopolitical conflicts, pandemics, and climate change disruptions. Ahmad Zahid emphasized the importance of expanding to the global market, estimated to reach US$5 trillion by 2030.
The final goal is to drive national prosperity by ensuring the success of the bumiputra community, which comprises over 70% of Malaysia’s population. Ahmad Zahid highlighted the interconnectedness of community success with overall national well-being.
