Image credit: The Star

CYBERJAYA: The role of the Bumiputera Agenda Steering Unit (TERAJU) will be restructured by focusing on efforts to scale up competitive Bumiputera enterprises, including upgrading from small to medium enterprises.

Economy Minister Rafizi Ramli said TERAJU is one of the agencies under the Ministry of Economy given a mandate to develop the Bumiputera business and economic ecosystem.

"We are currently going through the process of establishing and re-aligning TERAJU's function in the entire Bumiputera economic empowerment ecosystem.

"The reason is that we have many (agencies that help Bumiputera businesses), there is the Majlis Amanah Rakyat and SME Corporation Malaysia... so we want to make sure that TERAJU is really focused and there is no overlap among other government agencies," he told the media at the SUPERB Networking Day event here today.

Rafizi said the restructuring of TERAJU's focus and role is part of the preparation for a new Bumiputera policy that will be presented at the Bumiputera Economic Congress next year.

"We hope TERAJU can play a major role in focusing on scaling Bumiputera companies because one of the main problems, not only Bumiputera, but in our economy is that there are many companies but they are only at that level, for them to rise from micro or small size to medium is hard.

"So one of the functions that the ministry is collaborating with TERAJU is to build that expertise so that Bumiputera companies can be scaled and we are developing specific programmes to scale Bumiputera businesses," he said.

TERAJU was established in 2011 under the Prime Minister's Department to steer, coordinate and drive the Bumiputera agenda with the aim of increasing the dominance of the group in the national economy.