TERAJU Hails Budget 2027 Measures To Drive Bumiputera Firms’ Growth
KUALA LUMPUR, Oct 9 (Bernama) -- The Budget 2027 announcement to raise government procurement thresholds for Bumiputera contractors in Grades G1 to G4 is an important step towards expanding their participation in the national economic value chain.
At the same time, up to RM1 billion in financing allocated through the Bumiputera Agenda Steering Unit (TERAJU) will strengthen Bumiputera companies’ access to capital, particularly to help them expand, build capacity, enhance competitiveness and penetrate new markets.
TERAJU chief executive officer Junady Nawawi said Budget 2027 reflected a significant shift from merely increasing participation to building more resilient and competitive Bumiputera companies capable of scaling up.
“We view Budget 2027 as reinforcing the implementation of the Bumiputera Economic Transformation Plan 2035 (PuTERA35), particularly in ensuring that the opportunities created translate into tangible growth for Bumiputera companies.
“The focus is not only on access to financing and procurement, but also on capacity building, innovation, market expansion and business scaling,” he said in a statement today.
TERAJU also welcomed the RM58 billion procurement target for government-linked companies (GLCs) and Petroliam Nasional Bhd (Petronas) from Bumiputera companies, as well as efforts to update GLC procurement guidelines to take into account companies’ growth, innovation and ability to penetrate new markets.
“This approach has the potential to transform Bumiputera companies from mere vendors into strategic partners in supply chains and industrial ecosystems, thereby creating opportunities for long-term growth,” said Junady.
Overall, TERAJU views Budget 2027 as a significant step towards strengthening the Bumiputera economic ecosystem through access to financing, procurement opportunities, strategic investments, capacity building and market expansion.
“These efforts will not only support the achievement of PuTERA35 targets but also strengthen TERAJU’s role in driving the Bumiputera agenda, particularly in fostering growth and enhancing the competitiveness and capabilities of Bumiputera companies so they can make a more significant contribution to the national economy by 2035,” he said.
-- BERNAMA