Govt to allocate 30% of its tenders to bumiputra contractors

11 Oct 2019 / 17:55 H.

PETALING JAYA: The government will allocate RM8 billion in 2020 for the bumiputra institutions and entrepreneurs compared with RM7.6 billion this year.

Finance Minister Lim Guan Eng said RM6.6 billion will be allocated to bumiputra institutions such as Mara and University of Technology Mara (UiTM).

“RM1 billion is to help fund bumiputra SMEs through Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) and SME Bank.

“RM445 million is allocated for entrepreneurship programs under Tekun Nasional, SMECorp, Perbadanan Usahawan Nasional Bhd (PUNB), Pelaburan Hartanah Berhad (PHB) and Bumiputera Agenda Steering Unit (Teraju),” he said.

Lim added that the government in 2020 will continue to provide 30% of tenders by each ministry to bumiputera contractors.

As of August this year, bumiputra companies had secured government project contracts worth more than RM3.6 billion.

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