Malaysia’s economic situation now requires a productive and efficient strategy to improve the country’s economic development across various sectors, regardless of ethnicity.
In line with the concept of equality that underlies the Shared Prosperity Vision 2030 (SPV2030), the Bumiputeras form the main groups that need to be given attention in the development and holding of the Malaysian economy.
Ten Malaysia Plans (RMK) have been introduced. From the 1971 Second Malaysia Plan (RMK-2) to the recently launched Twelfth Malaysia Plan (RMKe-12) in 2021, all have outlined important parts of the Bumiputera Agenda in line with Article 153 of the Federal Constitution with emphasis on the preservation of the rights and privileges of Orang Asli, Malays, Chinese, Indians, People with Disabilities (OKU), as well as women and children.
The implementation of the Bumiputera Development Agenda remains important as Bumiputeras constitute about 69.9% of the Malaysian population. While the Government has continuously implemented programmes and initiatives to enhance the socio-economic status of Bumiputera, there are still issues and challenges that need to be addressed.
The main issues highlighted are:
- Economic Disparity; and
- Unemployment/ Underemployment