Bumiputera, non-Bumiputera collaborations curb monopolies

By BERNAMA / Pic By TMR

Strategic collaborations between Bumiputera and non-Bumiputera entrepreneurs, including those involving all industry players, can create genuine businesses and healthy competition in an open market, not just in the retail business, but also in wholesale and manufacturing.

Deputy Minister of Economic Affairs Dr Mohd Radzi Md Jidin said these collaborations would also boost and protect competition, as well as prevent monopolies, while providing more equal market opportunities for all communities.

“This will strengthen socio-economic growth, putting businesses in a better and stronger position locally and overseas by increasing productivity which increases opportunities for all parties,” he said during the question-and-answer session at the Dewan Rakyat yesterday.

Mohd Radzi was replying to a question from MP Datuk Seri Ahmad Hamzah (Barisan Nasional-Jasin) on breaking the monopoly by a certain group of people in the supply chain, so that it is more inclusive and fair.

Mohd Radzi said on June 20, the government set up an inter-ministerial committee to review monopolies in services and supplies, chaired by Economic Affairs Minister Datuk Seri Mohamed Azmin Ali.

The role of the committee is to plan and identify the need to change policies and strategies, and review all concession agreements for government services and supplies which are monopolies, to create a more effective, transparent, friendly and competitive market.

The government will also implement initiatives to help entrepreneurs in small and medium-scale industries compete in a healthy market through sponsorship and funding programmes which are open to all races. — Bernama

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