Bumiputera entrepreneurs’ contribution to GDP still low, says minister

Entrepreneur Development Minister Redzuan Yusof says there is a need to improve on the previous government’s policies when it comes to empowering Bumiputera entrepreneurs.

KUANTAN: There is nothing to feel proud about the contribution of Bumiputera entrepreneurs to the GDP as it falls below 10% of total growth, Entrepreneur Development Minister Redzuan Yusof said today.

The ministry, he said, was trying to get proper feedback before implementing measures to empower the Bumiputera entrepreneurs.

“It is not impossible to increase the percentage through strategic planning. We have plans to do this, and the Budget 2019 allocation for small and medium enterprises is RM4.5 billion to various ministries.

“My ministry will try to coordinate this allocation as best we can, including through matching grant programmes or low-interest financing to entrepreneurs, but it is up to them to have their own plans and programmes,” he said.

He said this at the Bumiputera entrepreneur empowerment convention at Dewan Jubli Perak Sultan Haji Ahmad Shah here today.

It was attended by Pahang Felda Affairs, Cooperatives, Entrepreneurs and Consumer Affairs Committee chairman Nazri Ngah and attracted nearly 1,000 entrepreneurs.

Redzuan suggested that there was a need to improve the previous government’s policies instead of blaming it.

He urged Bumiputera entrepreneurs to be more competitive and to expand to overseas markets. The minister further cited opportunities to export halal food products to Japan during the upcoming Tokyo Olympics and Tokyo Paralympic Games in 2020.

He said the ministry could help the 300 Bumiputera entrepreneurs who were already export-ready by linking them to buyers, and improving the ecosystem in terms of logistics, shipping and distribution.