Kuala lumpur: Bumiputera entrepreneurs need to transition from merely participating in the economic value chain to building ownership, scaling up their businesses, and gaining greater control of the sectors they operate in, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi stated.

According to BERNAMA News Agency, Ahmad Zahid emphasized that while the government will continue to provide opportunities and expand access to help Bumiputera entrepreneurs grow, they must also be courageous in expanding, competing, and creating value. Speaking at the closing of the Bumiputera Entrepreneurs Convention (KUB) 2035 Declaration, he noted, "We have spent a long time building participation. Now is the time to build ownership, scale up, and create greater control."

Ahmad Zahid, who also serves as Rural and Regional Development Minister, highlighted the need for significant shifts in the Bumiputera entrepreneurship ecosystem by 2035. These include integrating the support ecosystem, moving from producing to growing entrepreneurs, and ensuring the country's economic growth strengthens local companies. He pointed out that the current ecosystem's fragmented nature, with financing, training, and market access functioning through different channels, needs addressing.

He stated the importance of linking all support instruments to enable entrepreneurs to operate within a more integrated and effective ecosystem, leveraging advances in technology and artificial intelligence to avoid operating in silos. Ahmad Zahid also stressed the urgency of expediting the implementation of the Bumiputera Empowerment Unit (UPB) in every ministry to empower Bumiputera entrepreneurs effectively.

The focus, Ahmad Zahid said, should shift from producing more entrepreneurs to scaling up existing ones until they become industry leaders, especially in high-value sectors. He urged Bumiputera entrepreneurs, including women, to own technology, build brands, and penetrate global markets. Citing successful entrepreneurs like Khairul Aming, Aerodyne, and Les' Copaque, he illustrated the potential for Bumiputera entrepreneurs to command markets and lead industries.

Ahmad Zahid also emphasized the need for structured efforts to bring Bumiputera companies into global markets, suggesting that success should be measured by contracts, orders, and export sales, rather than merely the number of trade missions.