Najib launches initiatives to boost Malays' economic position
SHAH ALAM - Malaysian Prime Minister Najib Razak on Saturday launched a slew of new initiatives to strengthen the economic position of the majority Malays, in what is seen as rewarding the group that strongly backed his Barisan Nasional (BN) coalition in the general election in May.
He announced programmes to boost bumiputera participation in the economy, such as by raising corporate equity stakes, training up more Malays to take up management positions and high income jobs, building more affordable housing for them and a push to make sure they own industrial and commercial buildings.
"Certainly what we are doing is fair, we are doing what we are doing is right, we are doing what is equitable," Datuk Seri Najib said to loud roars from the 3,000-strong crowd at a cavernous hall at Universiti Teknologi Mara, a government university in Selangor state reserved for Malays and the other bumiputera races. The event was beamed live over television and radio.
He said the government is not denying anyone's right to the country's wealth, but to ensure a more equitable distribution.