Set up vendor development scheme for youth, GLCs urged

Government-linked companies (GLCs) have been urged to implement a development scheme for young people from various races to go into business.

Umno Youth chief Khairy Jamaluddin Abu Bakar said the scheme would enable young people to acquire business experience and build track records in entrepreneurship.

Reiterating his call for the setting up of the Youth Bank, he said the bank could lend money for productive purposes such as business startup capital and working capital, and not for spending purposes such as credit cards.

Delivering his policy speech at the Umno Youth General Assembly 2011 here today, Khairy also proposed the setting up of the 1Malaysia Childcare Centre for children of young working couples.

“Of late, many wives have to stop work to look after their children and it is not impossible for more husbands to stop work if their wives are earning more than them.

“Whatever it is, they lose a source of income as one of them have to look after their children.

Therefore, Umno Youth proposes the government to set up the 1Malaysia Childcare Centre throughout the country,” he said.

On Unit Peneraju Agenda Bumiputera (Teraju), he hoped the agency would introduce a new approach by emphasising on policies that were more open and market-friendly based on merit to empower Bumiputera in the economic sector.

“If the objective of the NEP (New Economic Policy) was to strive for equitable distribution of wealth, we hope Teraju will ensure young people, who benefited from it, will not betray the struggle and make quit profit for their own self-interest,” he said.

– Bernama