KUALA SELANGOR: Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi has called for Universiti Teknologi MARA (UiTM) to position itself as a global Technical and Vocational Education and Training (TVET) entrepreneur university.
This initiative aims to strengthen graduate accomplishments in line with the Bumiputera Economic Transformation Plan 2035 (PuTERA35).
He emphasised that UiTM should enhance its focus on entrepreneurship training to produce graduates who are not only professionally skilled but also capable of creating jobs.
Ahmad Zahid highlighted that the Bumiputera unemployment rate currently stands at four per cent, which is higher than the national average.
Nearly 388,000 individuals are unemployed, with 70 per cent being youth aged between 15 and 30, the majority of whom are Bumiputera.
He described this as a major challenge that must be addressed while also presenting an opportunity for collective advancement.
The Deputy Prime Minister stressed the importance of creating jobs rather than merely seeking them, underscoring his determination to strengthen both the TVET and entrepreneurship agendas simultaneously.
Ahmad Zahid, who also serves as the National TVET Committee chairman, made these remarks while speaking at the PuTERA35 Outreach programme here today.
He cited studies by the United Nations Development Programme (UNDP) and the International Labour Organisation (ILO) which indicate that entrepreneurship, business, and accounting training can help produce more entrepreneurs in the country.
Expressing confidence, he stated that with the support of PuTERA35 through financing, incubation, and industry collaboration, UiTM can emerge as a leading TVET entrepreneur hub in the region.
Ahmad Zahid further elaborated on corporate ownership disparities, revealing that only seven per cent of companies listed on Bursa Malaysia are majority-owned by Bumiputera.
Out of 945 companies listed as of 2022, only 62 have more than 50 per cent Bumiputera ownership.
He noted that over the past four years, only one Bumiputera company had successfully been listed, compared with 96 non-Bumiputera companies.
The Deputy Prime Minister clarified that these figures are not meant to foster envy or hatred but to encourage self-reflection and self-criticism regarding the underlying causes.
He described the corporate ownership gap as significant and urgent, calling for more Bumiputera companies to be listed on the open market.
Ahmad Zahid expressed hope that by the end of this year, more Bumiputera companies would be listed, serving as catalysts for others to follow suit. – Bernama