As economic gravity shifts towards Southeast Asia, Malaysia offers compelling reasons for companies to anchor their investment activities within its borders. From the realms of cutting-edge manufacturing to the dynamic realm of services, Malaysia presents a compelling proposition that resonates with forward-thinking enterprises seeking growth and innovation.
According to the IMD World Competitiveness Ranking (IMD), Malaysia ranked 27th in the world’s most competitive economies in 2023, up from 32nd in 2022, thanks to economic recovery, investment growth, and bright spots in exchange rate stability and the labour market.
MIDA recognises the importance of cultivating a talent pool that aligns with the evolving demands of industries. Therefore, MIDA is taking strategic steps to steer the country towards becoming a developed nation, and the public and private sectors are working closely together to develop a continuous talent pipeline to fuel future-focused businesses. This proactive measure aims to bridge the gap between talent supply and industry requirements, which is essential for cultivating a knowledge-based economy.
As industries pivot towards technology-driven operations, the demand for skilled individuals in fields like science, technology, engineering, and mathematics (STEM) is surging. Malaysia’s strategic investments in education and vocational training programmes are yielding a robust pipeline of professionals who are poised to meaningfully contribute to industry growth.
Efforts to bridge the skills gap and mitigate unemployment challenges in Malaysia have resulted in innovative initiatives. In partnership with the Federation of Malaysian Skills Development Centres (FMSDC), MIDA launched the Skills and Technical Enhancement Programme (STEP) to target unemployed graduates. The programme offers a range of 49 short courses across Malaysia, facilitated by 13 Skills Development Centres.
These courses are tailored to industry needs and span crucial domains such as Big Data Analytics, Integrated IoT, Cybersecurity, Welding Inspection, Wireless Data Communication, Mechatronics System, PLC Technology, and Pneumatic and Electro Pneumatic. Notably, these offerings are intrinsically aligned with cutting-edge technological advancements like Industry 4.0, digitisation, and automation. The programme has successfully trained over 1,000 graduates, enhancing their employability across sectors like manufacturing, telecommunications, oil and gas, energy, and services.
This collaborative endeavour by MIDA and FMSDC helps fortify Malaysia’s talent ecosystem, ensuring a continuous supply of qualified professionals to drive industry growth.
The synergy between academia and industry is essential to developing Malaysia’s talent pool. Collaborations between educational institutions and businesses ensure that curriculums are aligned with industry needs and that graduates have the skills and knowledge necessary to contribute effectively in the workforce.
In this spirit, a new initiative has been launched to elevate MIDA’s talent facilitation efforts. The “Special Taskforce-Talent Facilitation (STF-TF)” acts as a support hub aimed at narrowing the gap between talent demand and supply by engaging stakeholders across public sectors and academic institutions.
Growing a talent pipeline and instilling a sense of lifelong learning is key to sustaining a strong Malaysia. This collaborative nexus presents an unparalleled opportunity for students and faculty to amass invaluable insights, industry exposure, and practical experience through an array of initiatives. This engagement serves as a conduit to sculpting a pool of graduates well-equipped for the challenges of the future.
The significance of skilled manpower in propelling investment and industrial growth is undeniable. Malaysia’s commitment to nurturing talent involves government, businesses, educational institutions, and individuals. Prioritising talent development lays the foundation for sustainable economic expansion, technological advancement, and global competitiveness. As Malaysia nurtures its human capital, Malaysian talents are poised to lead progress and innovation.
In anticipation of emerging challenges in 2023 and beyond, MIDA will continue to strategise initiatives ensuring a skilled local workforce, aligned with both local and global economic development. Building a robust local talent pool, along with welcoming international talent, enables Malaysia to become a vibrant global city, creating ever-expanding opportunities for its rakyat now, and in the years to come. To learn more, please contact Industry Talent Management and Expatriate Division MIDA at https://www.mida.gov.my/staffdirectory/industry-talent-management-and-expatriate-division/