Umno implemented many economic programmes to empower Malays - Najib

Prime Minister Datuk Seri Najib Tun Razak said Umno has implemented many new programmes to empower the economy of the Malays and bumiputeras.

In a special interview by Mingguan Malaysia to mark Umno general assembly 2014 published today, he assured the Malays and bumiputeras that Umno will continue to champion their interests.

"After taking over the nation's leadership, I established Teraju (Bumiputera Agenda Steering Unit), a body focused on helping the bumiputeras."

Umno general assembly 2014 is scheduled from Nov 25 to 29.

Najib, who is also Umno president, said Ekuiti Nasional Berhad (Ekuinas) had raised the bumiputera equity to RM3.6 billion.

The government had allocated RM3 billion to Ekuinas and increased the allocation to the Entrepreneur Group Economoic Fund (Tekun).

"I also introduced the Carve Out Policy. When we implement large scale projects, we specify that parts of the contract be given to bumiputeras via tender. This means no direct negotiations.

"Bumiputera companies that meet the criteria in terms of shares and management should take part in the tender process".

On the Mass Rapid Transit (MRT) project, Najib said 47 percent of the project value had been given to bumiputera companies.

"We have also implemented the Jejak Jaya Bumiputera scheme for companies planning to go for listing (in Bursa Malaysia).

"If they meet the criteria, the government will help the companies to be listed. Similarly, all GLCs (government linked companies) must make helping bumiputeras as their agenda and one of their KPI."

He told the GLCs to make helping bumiputeras their agenda and used the examination analogy; "Failing Bahasa Melayu will make them fail the examination, despite passing all the other subjects."