Budget for Bumiputera development increased to RM11.1bil from RM8bil

The Star

6 November 2020

Budget for Bumiputera development increased to RM11.1bil from RM8bil

PETALING JAYA: The budget for Bumiputera development programmes has increased from RM8bil previously to RM11.1 bil.

Finance Minister Tengku Zafrul Tengku Abdul Aziz said initiatives supporting the Bumiputera development agenda would be continued to bridge socioeconomic disparity between the races.

"A total of RM6.5bil would be allocated to promote access to quality education at Bumiputera-based institutions such as Majlis Amanah Rakyat (Mara) and Universiti Teknologi Mara (UiTM)," he said when tabling Budget 2021 Friday (Oct 6).

The focus would be on specific programmes such as digitalisation of TVET (technical and vocational) learning methods, and upgrading from certificate level programmes to diploma.

Another RM4.6bil would be allocated to empower Bumiputera entrepreneurs, including financial assistance for Bumiputera SMEs through Syarikat Jaminan Pembiayaan Perniagaan (SJPP) (RM2bil), professional development and other capacity building programmes (RM1.3bil), Bank Pembangunan Malaysia and SME Bank capacity building programmes (RM800mil), and financing of SMEs and micro-SMEs through Tekun and PUNB (RM510mil).

He also announced the setting up of a RM300mil private hospital under Pelaburan Hartanah Bhd (PHB) on a piece of Malay reserve land in Sungai Penchala.

In a move to optimise the value of Malay reserve land in strategic locations and to promote commercial developments, he said RM750mil would be allocated to PHB under the 12th Malaysia Plan, he said.