Govt outlines 11 potential sectors for Bumiputera including high-growth, high-value industries

KUALA LUMPUR (Oct 24): The government has outlined 11 potential sectors to be capitalised by the Bumiputera community, including high-growth, high-value (HGHV) industries.

The Ministry of Economy said the sectors and industries that have been identified are based on the Bumiputera’s potential to generate high value-added activities, such as the use of advanced technology as well as research and innovation development.

“Among these potential sectors are HGHV industries based on energy transition, technology and digital industries, agriculture and agro-based industries, care services industry, venture capital and private equity industries,” the ministry said in a written reply on the Parliament’s website today.

This was in response to a question from Rodziah Ismail (PH-Ampang), who wanted to know the impact of the Bumiputera Economic Transformation Plan 2035 (PuTERA35) on enhancing the socioeconomic status of Bumiputera, particularly in suburban, rural, and remote areas, in new high value-added sectors and industries, including HGHV industries, without denying the rights of other communities.

According to the ministry, PuTERA35 emphasises three main pillars: Strengthening the Nation’s Economy; Reinforcing Good Governance and Institutions; and Upholding Social Justice.

These pillars are supported by 12 drivers and 132 initiatives aimed at addressing the issues and challenges faced by Bumiputera.

The ministry added that the government has designed several initiatives under PuTERA35 to empower rural Bumiputera in new high-value-added sectors and industries.

Among them is reengineering the rural economy through expanding access to alternative financing and participation in HGHV industries, particularly in energy transition, smart agriculture, and high-value herbal farming.

Additionally, there are efforts to empower logistics hubs to improve existing infrastructure and marketing/distribution agencies in rural areas and to formulate a more comprehensive rural development plan.

“The plan aims to expand the Malaysia Digital Initiative to rural areas and less developed states to enable Bumiputera to benefit from new investments related to technology and digitalisation.

“It will also review the imposition of conditions on private companies so that they will contribute to and advance the Bumiputera community and rural areas, including the Orang Asli and rural areas in Sabah and Sarawak.” – Bernama