Akmal Nasrullah: Removing 30pc Bumiputera equity rule for private education will not weaken empowerment agenda

Economy Minister Akmal Nasrullah Mohd Nasir asserted that eliminating the 30% Bumiputera equity rule for private education institutions (IPS) will not weaken the government's empowerment agenda for the community. He clarified that the responsibility for implementation and follow-up measures stemming from this change would be shouldered by the relevant ministries based on their respective areas of jurisdiction.

According to Nasrullah, the Bumiputera empowerment agenda should be viewed as a means of bolstering the community's ability to engage and grow in the economy. He emphasized the government's ongoing dedication to fortifying the Bumiputera empowerment agenda through measures that enhance their capacity to continue thriving and participating in economic endeavors.

At a closing ceremony for the Rehda Institute Youth Initiative (RIYI) 2026, Nasrullah conveyed the government's continued focus on boosting Bumiputera involvement and capabilities in economic activities. The removal of the equity requirement did not imply any decrease in the government's commitment to the community's economic empowerment.

The RIYI 2026 report unveiled a disparity between students' expectations and employers' evaluations of graduates' workplace preparedness. Approximately 41.6% of students believed a period of one to three months was reasonable for recent graduates to begin contributing financially to their positions, while only 2.9% of employers agreed with this timeframe.

Furthermore, 62% of students felt their universities sufficiently prepared them for the realities of the workplace, whereas only 32.3% of employers held the same opinion.

The survey, which included students and recent graduates from 21 Malaysian universities and employers, also revealed the increasing influence of artificial intelligence on initial employment. Around 76.4% of students reported regularly using AI tools, while half of the surveyed employers anticipated AI to diminish the number of entry-level positions they would offer in the next three years.

In terms of career development, 79.4% of employers expressed willingness to provide structured training and a clear career path if employees committed to staying, compared to 67.6% of students who would accept such an arrangement.

A majority of students (82.4%) and employers (58.3%) also supported the requirement of disclosing salary ranges in job advertisements, and 57.1% of students indicated they were likely or very likely to seek employment outside of Malaysia within five years. The findings highlighted the need for enhanced collaboration between universities and industry to provide students with earlier exposure to workplace realities.

Rehda Institute chairman Datuk Jeffrey Ng Tiong Lip noted that while a university degree forms a solid basis, students also require an understanding of how workplaces function, decision-making processes, and employer expectations. The RIYI 2026 program aimed to bridge the gap between universities and industry by facilitating direct engagement and mentorship, ultimately helping students develop essential skills for sustainable careers in a technology-driven economy.