Malaysia: Malaysia needs transformative strategies to boost Bumiputera enterprises' contribution to the nation's economic growth, the Dewan Rakyat was told today. Simpang Renggam Member of Parliament Datuk Seri Hasni Mohammad highlighted that their contribution to the country's gross domestic product remains low, at about 8.1 per cent in 2020, while the national target is to increase it to 15 per cent by 2035.

According to BERNAMA News Agency, Datuk Seri Hasni Mohammad suggested several transformative strategies, such as exploring the establishment of Bumiputera Equity Funds at both the state and national levels. He also emphasized the importance of expanding Bumiputera equity ownership in future-oriented sectors like digital, green technology, and the environmental, social, and governance (ESG) agenda.

Additionally, Hasni stressed the need for the younger generation of Bumiputeras to not only work in high-impact sectors but to lead, own, and build within them. He proposed a new approach to talent development, which could include incentives like intergenerational endowment scholarships and community- and industry-based mentor networks to facilitate the transfer of knowledge, experience, and opportunities.

Hasni further noted that a significant percentage of Bumiputera workers are still concentrated in the informal sector, which makes them particularly vulnerable to economic shocks. He urged for policy changes that would move beyond temporary assistance and towards developing household income resilience, ensuring that even small economic shocks do not push families into poverty.