Miti clarifies Bumiputera equity policy falls outside its remit

KUALA LUMPUR — The Ministry of Investment, Trade and Industry (Miti) has moved to clarify the division of responsibilities regarding Bumiputera equity policy, stating that the matter falls outside its purview. The clarification comes as questions have arisen about which government body holds authority over the implementation and management of equity-related policies affecting Bumiputera participation in the economy. According to Miti, the Economy Ministry is the designated authority responsible for overseeing Bumiputera equity policy and related initiatives. The distinction underscores the different roles assigned to Malaysia's economic ministries in managing various aspects of national economic policy. Miti's portfolio focuses on investment promotion and trade facilitation, while specific equity distribution policies fall under the Economy Ministry's mandate. The clarification is expected to help stakeholders and businesses better understand which ministry to approach regarding Bumiputera equity matters and related inquiries.