KUALA LUMPUR: The strategic cooperation between the Malaysian Investment Development Authority (MIDA) and the Ministry of Higher Education (KPT) can catalyse the nation’s industrial growth, particularly in supporting the event of extra skills on the international degree.
Minister of Investment, Trade and Industry (MITI) Tengku Datuk Seri Zafrul Abdul Aziz mentioned a skilled and aggressive workforce is vital to the success of the New Industrial Master Plan 2030 (NIMP 2030).
“The scarcity of expert expertise has turn into a continuing challenge amongst our buyers, each home and overseas.
“Without a holistic resolution on expertise growth and provide, Malaysia can by no means obtain the financial complexity, high-tech industrial ecosystem, net-zero goal or the financial safety envisaged by the NIMP 2030,” he mentioned on the memorandum of understanding (MoU) signing ceremony between KPT and MIDA right here as we speak.
The ceremony was additionally attended by Higher Education Minister Datuk Seri Zambry Abd Kadir.
Tengku Zafrul mentioned the collaboration is according to the aspirations of the MADANI Economy framework, the NIMP 2030 and likewise the Pelan Tindakan Pendidikan Tinggi Malaysia 2022-2025, which goals to create graduates and expert expertise to crown Malaysia among the many 30 largest economies on this planet by 2033.
He mentioned that funding within the industrial sector is likely one of the most secure job creators for a rustic.
“This is the sort of gradual however enduring capital that Malaysia wants,” Tengku Zafrul mentioned.
For the 2021-2023 interval, he famous that as many as 150,000 job alternatives have been created by means of 2,386 authorized manufacturing tasks.
Out of this, greater than 81 per cent have already been applied and most of those alternatives are for high-income expert skills for Malaysians.
“For manufacturing tasks which have been authorized for the 2021-2023 interval to date, a complete of three,678 or greater than 83 per cent have been applied, whereas 612 tasks representing nearly 14 per cent are on the strategy planning stage,” he mentioned.
Tengku Zafrul mentioned that in 2023 alone, as of May 5, 2024, the mission implementation fee reveals that greater than 63 per cent or 559 tasks have been applied, protecting tasks within the manufacturing stage, manufacturing unit development or machine/equipment set up.
“Typically, every mission takes 18 to 24 months to implement. Next, nearly 35 per cent or 309 tasks are on the strategy planning stage together with actions resembling location willpower and discussions with builders and consultants
“Only 1.25 per cent or 11 tasks have but to be applied and 0.45 per cent or 4 tasks can’t be applied for sure causes, together with modifications in investor technique,” he defined.
Tengku Zafrul added that this fee is encouraging, as a result of this funding shouldn’t be just like the capital market the place funds can go in instantly, however will also be withdrawn in just some hours.
In addition, a “whole-of-nation” strategy in fostering a resilient, strong and accessible industrial ecosystem with world-class expertise is necessary for the Ministry, authorities businesses and trade to guarantee Malaysia stays aggressive and investor-friendly, he mentioned.
“When we guarantee a strong expertise pipeline, we are going to strengthen Malaysia’s industrial capability, and that is the place we are able to push our worth proposition that Malaysia is the place international begins,” he mentioned, including that Malaysia is the place international corporations can situate their regional hubs, and the place homegrown corporations can develop into international champions.
