Ismail said as of 2019, it stood at 17.2%, while non-bumiputeras held 25%, and foreigners 45.5%. The remaining 12.3% is held by nominees.
The 30% target was set as part of the New Economic Policy (NEP), following the events of May 13, 1969 due to the economic disparity between the races.
Bumiputeras currently account for some 64% of the population.
“To ensure sustainable equity holdings by Bumiputeras, an equity safety net will be introduced to ensure that sales of shares or Bumiputera firms will only be sold to Bumiputera companies, consortiums or individuals,” he told the Dewan Rakyat when tabling the 12th Malaysia Plan (12MP).
Ismail also said the government would strengthen the resilience and sustainability of Bumiputera micro, small and medium enterprises (MSMEs) to achieve the target of 15% contribution to gross domestic product by 2025.
He said this goal would be supported by the provision of the Bumiputera Prosperity Fund (Dana Kemakmuran Bumiputera) and the Express Contract Financing Scheme (Skim Pembiayaan Kontrak Ekspres) under Mara to assist companies and contractors.
He said the government encouraged the participation of more Bumiputera entrepreneurs in the digital economy, as well as industries with high-growth potential.
He said financial assistance, guidance and mentoring by financial institutions would also be expanded to support Bumiputera entrepreneurs.
“To increase Bumiputera wealth, the policy and implementation of Bumiputera home-ownership quotas will be strengthened through closer cooperation between the federal government, state governments and local authorities,” he said.
“The government will also expand the concept of ‘wakaf’ (Islamic endowment) to diversify financial resources to finance businesses and increase Bumiputera equity.
“In this regard, more ‘wakaf’ instruments will be introduced, including creating a fund at the national level to mobilise more resources for entrepreneurship and fund socio-economic development programmes.
“The National Wakaf Master Plan will be created to ensure more efficient ‘wakaf’ management,” Ismail said.
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