11MP: Putrajaya targets 60pc Bumi participation in high-skill jobs
KUALA LUMPUR, May 21 — Putrajaya wants Bumiputeras to take up at least 60 per cent of the country’s high-skill jobs by 2020, according to the 11th Malaysia Plan tabled today.
The government’s five-year plan to turn Malaysia into a developed nation by 2020 also targetted at least 30 per cent Bumiputera ownership of corporate equities.
“Strengthen the Bumiputera economic community to increase their wealth,” said the executive summary of the 11th Malaysia Plan (11MP).
The 11MP also set a goal of a minimum 90 per cent of Bumiputera households owning their own homes by 2020.
The Barisan Nasional government at the same time aims to increase the female labour force participation rate from 53.6 per cent last year to 59 per cent in 2020.
Prime Minister Datuk Seri Najib Razak announced last January that Putrajaya has allocated a total of RM78 million for three Bumiputera economic empowerment initiatives.
In 2013, Najib announced a list of over RM31 billion in various loans, contracts and programmes that will be made available to Bumiputera, to strengthen their economic participation and boost their ownership of commercial property.
Critics and the opposition have blasted Umno’s race-based economic policies as a facade to enrich a select few Umno elites, citing the failure of the now defunct New Economic Policy in raising Bumiputera corporate equity to 30 per cent despite implementing the plan for three decades.
Najib, upon taking office in 2009, had admitted the need to dismantle race-driven economic policies but has yet to do so.