How much has the Bumiputera development allocation increased from the previous year?

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The Bumiputera development allocation has increased by RM400 million for Budget 2020.

For Budget 2020, the allocation designated for Bumiputera development has been set at RM8 billion, marking a RM400 million increase from the RM7.6 billion allocated in the preceding year. This enhanced funding is distributed across several key areas aimed at bolstering the Bumiputera community.
Increased Funding for Educational Institutions

A significant portion of the RM8 billion allocation, specifically RM6.6 billion, will be directed towards major Bumiputera educational institutions. This includes support for institutions such as MARA, its affiliated university UiTM, and the Peneraju Foundation, which focuses on assisting Bumiputera entrepreneurs.
Support for Small and Medium Enterprises

An amount of RM1 billion is earmarked for Bumiputera small and medium enterprises (SMEs) associations, to be channelled through the SME Bank. This aims to provide financial and developmental support to businesses within the Bumiputera community.
Entrepreneurship Development Programmes

Further investment in entrepreneurship is evident with RM445 million allocated for Bumiputera entrepreneurship development programmes. These funds will be distributed through initiatives such as the Tekun programme, SMECorp, PHB, and Teraju, fostering growth and opportunities for Bumiputera business owners.
Procurement Quota for Bumiputera Contractors

In addition to direct funding, a 30 per cent fixed quota has been announced for Bumiputera contractors in government procurements. As of August of the current year, Bumiputera contractors had already secured government projects valued at RM3.6 billion, indicating ongoing participation in public sector contracts.

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How much has the Bumiputera development allocation increased from the previous year?

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