Government-Linked Companies (GLC) and Government-Linked Investment Companies (GLIC) are expected to generate RM7 billion in business opportunities this year based on their key performance indicators (KPIs), Prime Minister Datuk Seri Najib Tun Razak said.
Najib, who is also the Finance Minister said the KPI's of the GLCs and GLICs were developed by the Putrajaya Committee on GLC High Performance or PCG.
"The PCG has determined the KPI principle and direction and 'game changing initiative' for the GLCs and GLICs," he said after chairing a meeting of the Bumiputera Economic Council in Putrajaya, Thursday.
"The KPI is inclusive, based on merit, transparent, market friendly and able to assist the Bumiputera community to be competitive," Najib said.
He said new initiatives for this year among others, include creating 50 new vendors via the Vendor Development Programme, nine consortiums or new anchor companies, and an increase of RM700 million through the Crave Out & Compete programme.
Other than this, the prime minister said a procurement allocation of RM2 billion, expenditure allocation of RM527 million and also entrepreneurship development allocation of RM100 million had also been created.
Najib highlighted that the Skim Latihan 1Malaysia (SL1M) and Graduate Employability Management Scheme (GEMS) will be expanded to train 2,123 graduates in 2014.
"It is estimated that 1,166 scholarships will be given to Bumiputeras in 2014, that is twice the 584 awarded last year," he said.
He said the GLC and GLIC KPIs also allocate additional funds of RM1.3 billion for the construction of commercial lots and housing.
"The GLCs also allocate RM100 million for Bumiputeras in the digital services sector as an effort towards increasing their participation, enriching talent and capacity," he said.
Apart from this, Najib said the GLCs and GLICs will adopt four additional schools under the PINTAR programme and have target 37 new trust schools under the Yayasan AMIR.
"The meeting today also agreed that the guidelines for the VDP (Vendor Development Programme) developed by the Ministry of International Trade and Industry (MITI) will be used as the national guideline for it and as reference for implementation by all concerned," he said.
Najib said the VDP will be chaired by Miti minister Datuk Seri Mustapa Mohamed.
The programme will assist in the development of local Bumiputera entrepreneurs, particularly small and medium industries, to become manufacturers and suppliers of components/services who are competitive to the domestic and global markets.
Meanwhile, Najib said for the Bumiputera KPI in ministries, the meeting also decided to monitor 133 of it throughout the year.
"Of the overall KPI, 88 or 66 per cent is related to strengthening entrepreneurs and businesses," he explained.
He said this included ensuring that Bumiputeras were given opportunities to receive contracts for the construction of six new highways as well as a big part of the vendor procurement value of all companies under the Ministry of Finance Inc.
"The Council wants to see the ministries implement the development of industries compatible with their core functions," Najib added.
Bernama
Thu Jul 17 2014
GLC and GLIC are expected to generate RM7 billion in business opportunities this year based on their KPIs, Prime Minister Datuk Seri Najib Tun Razak.
Astro AWANI's revamped English news website, AWANI International, launches on Oct 21
Astro AWANI's revamped English platform delivers in-depth global news and expert analysis to keep you informed on key developments.
Israeli strikes kill 33 people in Jabalia refugee camp in Gaza, medics say
Residents of Jabalia said Israeli tanks had reached the heart of the camp after pushing through suburbs and residential districts.
Liam Payne's ex-partner calls for media restraint after 'painful' death
Cheryl Tweedy used her statement to urge the media to remember they had a seven-year-old son, Bear, who could read the reports.
Analysts: Indonesia's strong MoF leadership team to boost investor confidence
Sri Mulyani Indrawati as head of Indonesia's Ministry of Finance is expected to instil confidence among investors.
Biden offers both a carrot and a stick to Israel as his term nears an end
Israel has frequently resisted US advice and has caused political difficulties for the Biden administration.
Putin says BRICS will generate most of global economic growth
Russian President Vladimir Putin will host a summit of the group in the city of Kazan on Oct. 22-24.
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.
Minimum wage to increase to RM1,700 effective Feb 1, 2025
The Progressive Wage Policy would be fully enforced next year with an allocation of RM200 million, benefiting 50,000 workers.
Bursa Malaysia ends higher on Budget 2025 optimism
The benchmark index, which opened 1.85 points higher at 1,643.29, moved between 1,641.71 and 1,649.31 throughout the trading session.
Five important aspects relating to people’s lives in Budget 2025 - PM
The focus is on driving the MADANI Economy, speeding reforms, cutting red tape, raising wages, and tackling the cost of living.
Economic outlook: Govt plans to leverage, expand existing city transit system
The expansion aims to provide a more efficient and reliable public transportation network, reduce congestion, and improve accessibility.