KUALA LUMPUR: Government-linked companies (GLCs) and Petroliam Nasional Bhd (Petronas) are targeting RM58 billion in procurement from Bumiputera companies as the government steps up efforts to expand their participation in the economy.
Prime Minister Datuk Seri Anwar Ibrahim said GLC procurement guidelines, which have not been reviewed since 2006, would be updated from 2027, with vendor performance assessed based on business growth, innovation and access to new markets.
Tabling the 2027 Budget at the Dewan Rakyat here today, he said the government would increase procurement allocated to Bumiputera contractors in grades G1 to G4 to RM7.5 billion next year, from RM4 billion this year.
The government would also strengthen financing and investment support for Bumiputera businesses, with Perbadanan Usahawan Nasional Bhd's financing increased to RM500 million from RM350 million, while Bumiputera Agenda Steering Unit (Teraju) would provide up to RM1 billion in financing.
