The government needs to establish a sustainable economic policy or roadmap that will be a game-changer for the economic transformation of settlers and smallholders, said Federal Land Development Authority (Felda) chairperson Ahmad Shabery Cheek.

He said if successful, the implementation of a circular economy is expected to generate over RM100 billion in benefits, especially involving products such as sustainable aviation fuel (SAF).

"The value of SAF is now twice the price of conventional aviation fuel.

"If we want to help the Bumiputera economy, we must look for important areas in the future," he told reporters after presenting the findings of the Felda and Regional Land group engagement sessions in conjunction with the Bumiputera Economic Congress (KEB) 2024 here today.

Shabery said Felda is currently emphasising the circular economy system because oil palm waste now has a high value.

"Items called waste are not something to be discarded but can generate significant value for the country," he said.

The circular economy is based on the concept of reuse, regeneration and recycling to maximise use and output.

Regarding the proposal for the establishment of a Bumiputera Land Corporation, he said the suggestion should be taken seriously at KEB 2024 as it would help empower Bumiputera.

"KEB will create a balanced and fair society for all," he said.

The three-day KEB 2024, which began today at the Putrajaya International Convention Centre, involves the presentation of findings from engagement sessions involving 10 groups.

The clusters are on Education and Human Capital Reforms; Technical and Vocational Education and Training (TVET) as Preferred Career Choice; Strengthening of Halal Industry; Rural Development and Empowerment of Orang Asli Community; Wealth Creation and Corporate Control; Bumiputera Industrial Competitiveness; Mastering New Technologies; Felda and Regional Land; Sabah Bumiputera Socioeconomy; and Sarawak Bumiputera Socioeconomy.

- Bernama

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