“Government unveils Bumiputera Land Corporation to protect land ownership, empower the community. Proposed policy: 20% land return during lease renewal. Details disclosed at Bumiputera Economic Congress 2024.”
KUALA LUMPUR, 29th Feb 2024 – Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi announced on Thursday the government’s intention to establish the Bumiputera Land Corporation (Perbadanan Tanah Bumiputera). This initiative aims to safeguard land ownership, contributing to the empowerment and enhancement of the Bumiputera community.
If the agricultural land lease surpasses 50 acres (20.23 hectares) or industrial land exceeds 20 acres, the suggestion is to allocate 20% of the land back to the government during lease renewal, as outlined in Zahid’s address at the Bumiputera Economic Congress 2024.
“The establishment of the Bumiputera Land Corporation represents a proactive step to maintain a balanced racial demographic, support Bumiputera businesses in agriculture, industry, and new settlements, and safeguard Bumiputera ownership,” he expressed.
The corporation would manage the reclaimed land portion, as highlighted by Zahid, who serves as the rural and regional development minister, during the three-day congress.
“I believe this initiative has the capacity to generate substantial benefits and valuable opportunities for Bumiputeras to have a share in the country’s land resources,” he further stated.
