New initiatives to raise Bumi equity, says Shafie

(Bernama) – The Bumiputera Agenda Development Council headed by Prime Minister Datuk Seri Najib Tun Razak plans to introduce new initiatives to increase Bumiputera equity in the economy, said Umno vice-president Datuk Seri Shafie Apdal.

He said the government was also looking at the quality of entrepreneurs rather than quantity to ensure viable and diverse Bumiputera businesses could stay competitive in the economy.

“We want them to grow big and make a breakthrough globally, especially in the petroleum exploration, plantation and property development sectors,” he told reporters after launching the Puteri Umno’s Entrepreneurs and Economic Enhancement Bureau portal at the Putra World Trade Centre here on Friday.

He was commenting on worries raised by Puteri Umno at the Umno General Assembly here that the Bumiputera corporate equity ownership was marginal.

On Puteri Umno proposal for the setting up of the First Bumiputera Entrepreneurs Scheme for entrepreneurs below 40 years by capitalising on funds for Mara and Tekun, he said it was a good idea and the government would study it.