Zahid urges stronger push for Bumiputera Economic Transformation Plan success

New Straits Times

23-05-2025

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PUTRAJAYA: Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi has called on all ministries, agencies and government-linked bodies to step up efforts to ensure the success of the Bumiputera Economic Transformation Plan 2035 (PuTERA35).
He said PuTERA35, a long-term plan to drive the economic development of Bumiputeras, must not remain a mere "decorative document stored in the cabinet".
"PuTERA35 represents a national commitment to strengthening Bumiputera participation, ownership and control in the economy," Zahid said in a speech.
"However, if this commitment is not translated into action, we are merely wasting time.
"This is why I want everyone, whether from ministries, agencies, government-linked companies (GLCs), government-linked investment companies (GLICs), coordinators or implementers, to move together, to review, assess transparently, and act decisively to ensure that this agenda achieves the goals we have collectively envisioned."
He said this in his keynote address at the one-year retreat session of the 2024 Bumiputera Economic Congress.
Zahid said the implementation of programmes and projects under PuTERA35 has achieved a 15.7 per cent success rate.
"We already have the plan and the structure. What we now need is disciplined implementation and the courage to make bold decisions."
Zahid also spoke on the importance of a clear timeline to deliver tangible results.
"We have 132 initiatives under PuTERA35. I want these to be given the utmost priority. I want tangible results.
"We can no longer afford to be trapped in endless rhetoric," he said, adding that a strategic, clear and consistent communications plan on PuTERA35 was also needed.
He added that PuTERA35 must also serve as a central framework for all ministries, not just the Economy Ministry and the Rural and Regional Development Ministry, as it is a government policy.
"Every ministry, without exception, must play an active role as envisioned. The people have the right to know how many Bumiputera entrepreneurs have been developed this year.
"How many have progressed from micro to medium enterprises? How many TVET graduates are now earning monthly salaries of over RM4,000?"
Zahid also called for a change in the treatment of reports, saying the government could no longer rely on passive and annual reports.
"It is time for us to move forward with courage, guided by strategic, data-driven interventions and focused on real outcomes.
"Now is the time to prove that what has been planned is truly being implemented," said Zahid, who is also the Rural and Regional Development minister.
Meanwhile, Zahid said he has tasked the deputy secretary-generals for policy in each ministry to coordinate and monitor the implementation of PuTERA35.
"This role will be further supported by the Bumiputera Empowerment Unit, which must be restructured to suit current needs," he said.
He also said the Bumiputera Economic Congress retreat session will become an annual fixture to collectively reinvigorate the Bumiputera development agenda across all ministries, agencies and sectors.
Present were Deputy Economy Minister Datuk Hanifah Hajar Taib, Majlis Amanah Rakyat (MARA) chairman Datuk Dr Asyraf Wajdi Dusuki, and Bumiputera Agenda Steering Unit (Teraju) chief executive officer Junady Nawawi.