“This includes streamlining and co-ordinating all forms of assistance, simplifying business management, reducing bureaucratic hassles, and decentralising approval processes for financing applications,” he said at the closing ceremony of the Bumiputera Economic Congress 2024 here today.

Awang Tengah also called for venture capital funds to be raised, and to be managed by the Sarawak Bumiputera Entrepreneur Council, Bernama reported.

He said venture capital was necessary to provide incentives such as easy financing for budding entrepreneurs, in addition to helping provide business premises, training and skills development, and market access.

“These measures will aid Sarawak Bumiputera entrepreneurs in expanding their business,” said Awang Tengah, who is state minister for international trade, industry, and investment.

He said it was important to have policies in place to allow Bumiputera contractors to compete for large-scale government-funded projects.

“It is crucial for both the government and entrepreneurs to demonstrate commitment by developing concrete and comprehensive action plans,” he said.

Sabah’s commitment

Sabah chief minister Hajiji Noor highlighted his state’s commitment to strengthening its agricultural, industrial, and tourism sectors.

He emphasised the importance of improving connectivity between rural areas and urban centres, as geographical challenges were a hindrance to progress.

He added that the state government would support grassroots Bumiputera economies in Sabah and lay the groundwork for a more inclusive and sustainable development model for the community.

“Empowering the Bumiputera community in Sabah by providing training, quality education, and enhancing their digital and financial literacy, as well as equipping them with essential skills, alongside basic infrastructure facilities, will enable them to compete nationally, if not globally,” he said.