Extract from “TPP needs significant structural changes to reap benefits”

On Bumiputera participation, ISIS said the government procurement threshold for supply of goods and services is expected to change the status quo of Bumiputera participants. “Recipients of contracts above relevant thresholds will now have to compete openly and those below the thresholds remain unaffected,” it said.

For construction contracts, ISIS said there was a 30 per cent Bumiputera reservation ensuring that there would be minimum Bumiputera participation.

It said there was policy space for equity ownership by Bumiputera in real estate, oil and gas and privatised government-owned assets.

“The government can continue offering direct assistance through licensing and permits to Bumiputera as well as maintain the right to control activities such as gambling permits and products such as information content and alcohol.

“Halal certification, syariah legal services, religious schools, pilgrimage and zakat continue to be controlled by the state,” it noted.

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