Kuala terengganu: Bumiputera ownership should not be confined to small-scale businesses but must progress towards controlling larger segments of the value chain, says Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi. Ahmad Zahid, who is also the Rural and Regional Development Minister, emphasized the need for Bumiputera entrepreneurs to elevate their roles beyond small vendors and ancillary suppliers to become principal manufacturers and market leaders.

According to BERNAMA News Agency, Ahmad Zahid highlighted the importance of the halal industry as an example where Bumiputeras should control the entire value chain, from raw materials to international markets. He proposed the establishment of a consortium of large-scale Bumiputera anchor companies to reduce import dependence and build capabilities in high-value halal sectors.

Ahmad Zahid noted challenges faced by Bumiputera entrepreneurs in the food and franchise sectors, such as costs and market access. He suggested approaches like group purchasing and franchise incubator models to consolidate purchasing power and elevate Bumiputera brands. He also urged Bumiputera youths to engage in future-oriented sectors like aero-tech and automation, emphasizing the need to move from being consumers to becoming owners within the industrial value chain.

Furthermore, Ahmad Zahid called for a redefinition of Bumiputera economic success, focusing on control and ownership in high-value sectors rather than mere participation. He stressed the importance of developing competitive Bumiputera digital platforms for significant economic impact. Ahmad Zahid also encouraged Bumiputeras to become technology creators in the new economy driven by data and AI.

Lastly, he emphasized the need for an integrated Bumiputera economic ecosystem, uniting policy, capital, and technology to deliver meaningful impact. He expressed confidence that when Bumiputeras own platforms and lead value chains, a stronger economy and a confident community will emerge.