Government can implement bumiputera quota for businesses in shopping malls and tourist hot spots

The government intends to review the management of shopping centers owned by government-linked companies (GLC) to be managed by local businesses to ensure that traders, especially the Bumiputeras, have priority in doing business there.

Based on a report by Astro Awani, Prime Minister Datuk Seri Ismail Sabri Yaakob explained that it is because Bumiputera traders less likely to get commercial space in these premises due to high rental rates, apart from factors such as competition.

“The government has also taken note that the ownership by the Bumiputera of business premises in prestigious shopping malls and tourist hot spots is still low,” he said.

This issue was decided within a Bumiputera Prosperity Council (MKB), chaired by the Prime Minister, to discuss efforts to empower and strengthen the economic and socio-economic development of the Bumiputera.

He also suggested that a quota for the number of companies owned by Bumiputera in strategic locations be established in line with efforts to increase competitiveness.

“However, this quota will be managed in a transparent and fair manner so that the main objective of helping eligible and potential Bumiputera companies is achieved, without being diverted to the point of deviating from real objectives, in line with the aspirations of the Malaysian family, ”he added.

Despite the lack of business opportunities, Ismail Sabri also shared that Bumiputera companies had secured around 80% of the annual value of contracts from all government agencies.

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