Overview
editTERAJU is a strategic unit under the Prime Minister’s Department of Malaysia (JPM) established on 8 February 2011 to spearhead the country’s Bumiputera economic participation.
TERAJU operates in collaboration with the Bumiputera Economic Empowerment Unit (UPEB) that resides in 24 ministries and the Prime Ministers Department. UPEB comes under the purview of the Bumiputera Economic Council or Majlis Ekonomi Bumiputera (MEB) led by the Prime Minister of Malaysia. Initiatives are carried out alongside with government agencies at various levels, economic corridors, GLCs/GLICs and the private sector.
TERAJU is mandated to pursue five key thrusts under Malaysia’s Bumiputera Economic Transformation Roadmap (BETR) 2.0 that includes strengthening human capital, promoting higher value employment and income, increasing Bumiputera share and value of corporate equity, strengthening entrepreneurship, and increasing ownership of non-financial assets.
It is also mandated to ensure the ideals in Bumiputera education, health, social and culture, living environment, and stature are lifted to greater heights under the Malaysian Government’s Transformasi Kesejahteraan Bumiputera (Bumiputera Wellbeing Transformation) initiative.
As at 31 December 2017, these initiatives have resulted in RM122.2 billion in total value created for Bumiputera, created more than 45,000 jobs, RM14.44 billion in private investments through its facilitation fund, and registered RM9.1 billion in market capitalisation from listing emerging Bumiputera companies on the Bursa Malaysia, Malaysia’s stock exchange.