KOTA KINABALU: Sabah is now being positioned as a key strategic region in strengthening the national Bumiputera economic agenda through the Bumiputera Economic Transformation Plan 2035 (PuTERA35), in line with the government’s commitment to reducing regional development gaps and accelerating high-value economic growth.
The initiative was highlighted during the TERAJU Aspirasi Outreach 2026 programme held at the Sabah International Convention Centre (SICC), Kota Kinabalu on 9th April 2026.
The event was officiated by Sabah Chief Minister Datuk Seri Panglima Hajiji Noor, and attended by Deputy Minister of Economy Dato’ Indera Mohd Shahar Abdullah.
Empowering Bumiputera Businesses in Sabah
During the programme, the Bumiputera Agenda Steering Unit (TERAJU) introduced several business facilitation initiatives such as ASCEND, ENHANCE, and XCELERATE, which provide a more structured development pathway for Bumiputera companies.
These programmes focus on:
- strengthening business foundations
- enhancing commercial capabilities
- improving capital market readiness
- expanding market access
In addition, the launch of the Sabah & Sarawak Bumiputera Scaling Financing Fund (BSSF) was announced to support local Bumiputera enterprises in scaling up operations, with funding of up to RM100 million.
Sabah as a High-Value Economic Growth Engine
Sabah has been identified as an important contributor to Malaysia’s economy. The state’s economy grew from RM78.7 billion in 2021 to RM84.3 billion in 2024, and is projected to reach RM86.4 billion in 2025.
Beyond tourism, which contributes around 12% to Sabah’s economy, the state is also seen as having strong potential in developing the Blue Economy, including sectors such as:
- high-value fisheries
- marine renewable energy
- aquaculture
The expansion of these sectors is expected to create new job opportunities and unlock high-value economic growth for Sabahans.
Strengthening Competitiveness and SME Growth
Under the PuTERA35 framework, development interventions in Sabah are also focused on:
- expanding participation in high-growth and high-value industries
- strengthening the Bumiputera entrepreneurship ecosystem
- accelerating the growth of Bumiputera micro, small and medium enterprises (MSMEs)
- increasing large-scale contributions to state and national economies
Sabah’s Chief Minister said this approach is crucial to ensuring more local companies can grow, create value, and contribute sustainably to the state economy.
Cross-Agency Strategic Collaboration
To strengthen Sabah’s Bumiputera development ecosystem, TERAJU also formalised several strategic partnerships with key industry players and agencies.
Among the collaborations announced were:
- Letter of Cooperation between TERAJU and SCENIC
- Letter of Cooperation between TERAJU and STC
- Memorandum of Agreement between TERAJU and Bank Rakyat
- Memorandum of Agreement between TERAJU and Agrobank
These partnerships focus on:
- financing access
- scaling Bumiputera companies and vendors
- strengthening local supply chains
- technology and innovation development
Community Impact
The event also witnessed the handover of the INNO4C project under the DPUB Sabah initiative.
The programme has benefited six rural communities in Sabah through scaling projects involving the production of:
- pepper
- shrimp paste
- oysters
- ambatu kelarai
The initiative reportedly increased the income of Bumiputera B40 communities by 40%, driven by capacity building, technology adoption, and strategic industry collaboration.
Ongoing Engagement Platform
TERAJU Aspirasi Outreach 2026 will continue to serve as a direct engagement platform between the Ministry of Economy, Sabah State Government, implementing agencies, and the business community.
This effort aims to expand awareness of PuTERA35 while ensuring policies are implemented in a way that responds effectively to local industry needs.
PuTERA35 itself encompasses 3 pillars, 12 drivers, and more than 132 strategic initiatives as the main framework for empowering the Bumiputera economic agenda in a focused and high-impact manner, particularly in strengthening company value creation and expanding economic opportunities throughout the country, including Sabah and Sarawak.
