The government will review all policies involving human resources and human capital in an effort to retain and attract skilled talents to the local job market, says Prime Minister Datuk Seri Ismail Sabri Yaakob.
According to Bernama, the prime minister said the Economic Action Council (EAC) admitted that the country is not only facing challenges in creating highly-skilled job opportunities but also competition from developed countries which offered higher wages to attract skilled talents.
He added that the government is committed to make Malaysia a high-income nation, driven by the adoption of new technologies, inventions and development of local technologies.
To achieve this, he said the government would also continue with efforts to develop future talents for inclusive and sustainable growth.
Ismail said the EAC has agreed with the proposal by the Science, Technology and Innovation Ministry on the intervention measures to be taken to improve Malaysia’s position in the top 20 in the Global Innovation Index.
He also said this is in line with the government’s target under the 12th Malaysia Plan.
“In addition, a strategic innovation measure will be created to increase the commercialisation of the country’s technology and innovation following the mismatch of the fields with the needs of the industry.”
“The government is always making efforts to ensure the country is moving forward in line with the technological changes and meeting the current needs of the labour market to ensure the well-being of Keluarga Malaysia,” he said.
Shortage of skilled talent
The shortage of skilled labour in Malaysia is nothing new, but it was made worse by the acceleration of technological transformation during the pandemic. Unfortunately, it is now affecting business recovery as industries scramble to meet pent-up demand and new supply chain obligations.
Speaking to The Edge, Federation of Malaysian Manufacturers (FMM) president Tan Sri Soh Thian Lai says there is great demand for all kinds of products as the country relaxes the restrictions, but businesses were facing challenges in wooing the right talents.
He shared that businesses are also facing a talent shortage as some of the foreign workers that the industry trained have been sent home, while locals have found opportunities in the gig economy or transitioned to other industries during the various lockdowns without looking back.
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