Govt To Continue Efforts To Boost Wealth Of Bumiputera Households Via Various Mechanisms

PUTRAJAYA, Aug 7 (Bernama) -- The government will continue to strengthen the wealth of bumiputera households, particularly among the B40 and M40 (lower to middle income) groups, through efforts to increase savings and investment opportunities, as well as skill development to raise incomes.

Finance Minister II Datuk Seri Amir Hamzah Azizan said that efforts to boost bumiputeras’ wealth ownership participation remains one of the government's priorities, to be achieved through various mechanisms including entrepreneurship development and the strengthening of retirement savings.

“Increasing bumiputera household wealth is an important priority for the government. We are working to expand opportunities through various mechanisms to develop entrepreneurs.

“For those employed in both the formal and informal sectors, our focus is to increase savings so that they will have sufficient savings upon retirement,” he said at the media briefing on the Finance Ministry’s 2026 GEAR-uP Progress Report here today.

“Under PNB, we have established funds such as ASB, which provide bumiputeras with opportunities to invest and earn higher returns, thereby enhancing their financial capabilities,” he said.

In addition, he said, the government is focusing on improving skills of individuals to help raise their incomes and thus strengthen their ability to save and invest.

“For individuals, we are expanding skills training to enhance their competitiveness and increase their chances of securing better jobs.

“After getting better jobs, they will have more financial resources, and we can teach them how to reinvest those funds. As a result, their wealth will grow,” he said.

The report also said that more than 70 per cent of unitholders in the financial instruments were from M40 and B40 households.