PUTRAJAYA: The Bumiputera Economic Transformation (TEB) is proposed as a new policy for the Bumiputera economic agenda following the three-day Bumiputera Economic Congress (KEB).
Rural and regional development minister Datuk Seri Dr Ahmad Zahid Hamidi has outlined three main goals for TEB namely socio economic justice; sustainability of national unity and national prosperity and people's welfare.
He said TEB was a new progressive policy aimed at narrowing the socioeconomic gap among the people.
"These three main goals of the TEB are to ensure that the country's economic policy and implementation agenda not only guarantee the involvement and rights of Bumiputera but at the same time ensure the existence of mutual cooperation or synergy with non-Bumiputera.
"Despite their willingness, the cooperation between races is crucial in revitalising the country's economic activities.
"In line with this spirit, the three outlined goals demand all races to work together shoulder to shoulder in developing the country. Respecting equitable distribution alongside acknowledging the fact, efforts to elevate Bumiputera participation in all economic sectors are within the framework of the Federal Constitution," he said in his keynote address at the launch of KEB, here, today.
Zahid who is also the deputy prime minister said by providing focus and refining existing initiatives, TEB is believed to be capable of addressing the socio economic challenges and opening the door to broader progress for every segment of society.
He added that the TEB was a significant policy that could stimulate the economic growth of Bumiputeras and attract investments to build a strong economic foundation for long-term sustainability.
He called for Bumiputera entrepreneurs to enhance external relations through trade promotion, diplomacy, and international cooperation.
"This step can open doors to wider opportunities and build bridges of shared prosperity on a global scale.
"Let us not only work in the domestic arena but also seize the global market, which has the potential market value exceeding 5 trillion US dollars by the year 2030," he said.
At the same time, he said he was confident the TEB would be able to increase the percentage of skilled Bumiputera workers, which currently stood at 29.1 per cent compared to other ethnic groups.
"This will undoubtedly ensure access to jobs that provide more reasonable and stable incomes, thus improving their standard of living," he said.
He added that the TEB would focus on inclusivity, including empowering women entrepreneurs and the rakyat.
"TEB not only focuses on initiatives to empower corporate groups but also addresses the economy of ordinary rakyat.
"The KEB must seek solutions for more Bumiputeras to participate in entrepreneurial activities.
"Being self-reliant in generating income will ultimately lead to an improvement in the standard of living and the overall welfare of the people," he said.
The Economy Ministry, in collaboration with the Rural and Regional Development Ministry is hosting KEB 2024, themed "Positive, Progressive, Innovative", at the Putrajaya International Convention Centre (PICC) for three days.
This year, KEB focuses on 10 clusters covering 10 sectors, namely Education Reform and Human Capital; Institutions of Technical, Vocational Education and Training (Main Career Choice) and Strengthening of Halal Industry and Rural Development and Empowerment of Orang Asli Communities.
Other clusters are Wealth Creation and Corporate Dominance; Competitiveness of Bumiputera Enterprises; Mastery of New Technologies; Felda and Federal Territory Land; Socioeconomy of Sabah Bumiputera and Socioeconomy of Sarawak Bumiputera.