RM49 Billion Annually from GLCs and Petronas to Bumiputera Firms

Malaysian government-linked companies (GLCs) and Petronas have significantly boosted Bumiputera businesses, recording about RM49 billion in annual procurement of goods and services from these firms between 2022 and 2025. This accomplishment, detailed in the GEAR-uP 2026 Progress Report, underscores the government's commitment to Bumiputera empowerment.

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Bumiputera empowerment remains among the priorities in the implementation of the program.

Beyond procurement, government-linked investment companies (GLICs) have injected RM1.3 billion directly into Bumiputera companies. This capital infusion aims to fuel their expansion and enhance their competitiveness. The success of these initiatives is measured by the tangible benefits reaching local citizens and businesses, aligning with the government's focus on developing Bumiputera enterprises and strengthening domestic supply chains.

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The success must be viewed from the benefits received by the people and local businesses.

Finance Minister II, Datuk Seri Amir Hamzah Azizan, highlighted that GEAR-uP is more than just an investment program; it serves as a platform to broaden economic opportunities for Malaysians. In the past year, GLICs and GLCs also invested RM641 million in community programs, marking a 20% increase from the previous year. This comprehensive approach aims to foster inclusive economic growth and development.

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Efforts to develop Bumiputera companies and strengthen local supply chains are among the government's main focuses.