KUALA LUMPUR: The government is allocating RM8 billion to assist Bumiputera institutions and entrepreneurs under the 2020 Budget, compared with RM7.6 billion allocated this year.
Finance Minister Lim Guan Eng in his 2020 Budget speech said RM6.6 billion would be allocated to Bumiputera institutions focused on education such as Majlis Amanah Rakyat (Mara), Universiti Teknologi Mara (UiTM) and Yayasan Peneraju Pendidikan Bumiputera.
Meanwhile, RM1 billion will be allocated for financing for Bumiputera small and medium enterprises (SME) such as via the Working Capital Guarantee Scheme (SJPP) and SME Bank; and RM445 million will be provided for entrepreneurship programmes mainly under SMECorp, Pelaburan Hartanah, PUNB, Tekun and Teraju.
“Until August 2019, Bumiputera companies have successfully secured new projects via tender valued at more than RM3.6 billion in contracts awarded by the government in 2019.
“In 2020, the government will continue to ensure that at least 30 per cent of tenders of each ministry are reserved for only Bumiputera contractors.”