Bumi economic congress more misses than hits, says business leader

 

The Bumiputera Economic Congess failed to establish clear goals and set out a clear plan for execution and monitoring, said a businessman who was present. (Bernama pic)

PETALING JAYA: A Malay business leader has described the Bumiputera economic congress last week as having “more misses than hits”, saying the government spurned several opportunities to set tangible targets for the community.

The businessman, who attended the congress, said it failed to set real economic goals for the community. However, he noted that the government intends to launch a 10-year Bumiputera plan in June.

Speaking on condition of anonymity, he told FMT that some resolutions brought to the three-day congress were “hollow, generic and rhetorical”.

“On the other hand, some of them were spot on, but had no clear goals. These are some of the missed opportunities.

“It would have been more impactful if details could be determined, with a clear plan on execution and monitoring. We had feared that it would turn out to be just another congress.

“With that said, I’m happy to note that all our perspectives were validated. The state of the Bumiputera economy is indeed dire.”

The congress reportedly debated more than 80 resolutions over three days, ranging from early childhood learning and technical and vocational education and training (TVET) to the mastery of new, high-value technology.

At the congress, Prime Minister Anwar Ibrahim reportedly outlined three resolutions in a bid to bolster Malaysia’s economic pillars, enhance governance and uphold social justice.

Anwar, who doubles up as finance minister, also announced that the government will allocate RM1 billion to kick-start a Bumiputera entrepreneurship fund established to improve the community’s participation in high-value industries.

He then announced the establishment of Mara Madani Waqaf, an endowment fund that hopes to raise RM1 billion within two years, aimed at empowering the Bumiputera community.

However, the businessman said the congress should not be focused on the announcement of financial allocations, despite the importance funding plays in the implementation of measures to uplift the Bumiputera economy.

He also said speeches delivered by three ministers at the congress were unhelpful, due to their differing nuances. He did not name the ministers.

“The main problem was in clustering and goal-setting. There were many issues and opportunities that were overlooked.”

On Thursday, economy minister Rafizi Ramli said Putrajaya will launch a “fresh and inclusive” Bumiputera empowerment plan in June, with suggestions from the congress to be included. - FMT