The Malaysian government has allocated RM5 billion in Budget 2024 to improve technical and vocational education and training (TVET) education in the country.
Prime Minister Datuk Seri Anwar Ibrahim said the allocation would be used to upgrade TVET infrastructure, develop new TVET programmes, and provide more scholarships and financial assistance to TVET students.
He said the government was also committed to increasing the number of TVET graduates in the country, as they were in high demand by the industry.
"The TVET sector is crucial to the country's economic development, as it provides the workforce with the skills and knowledge needed to meet the demands of the Fourth Industrial Revolution," Anwar said in his Budget 2024 speech on Wednesday.
"The government will continue to invest in TVET education to ensure that Malaysia has a skilled and competitive workforce."
Among the specific initiatives that will be funded by the RM5 billion allocation include:
Upgrading TVET infrastructure at public and private training providers.
Developing new TVET programmes in high-demand areas such as digital technology, engineering, and healthcare.
Providing more scholarships and financial assistance to TVET students.
Collaborating with industry to ensure that TVET graduates are equipped with the skills and knowledge needed by the workforce.
The government also announced that it will be setting up a new National TVET Council to advise the government on policies and strategies to improve TVET education in Malaysia.
The council will be made up of representatives from the government, industry, and academia.
The government's commitment to improving TVET education has been welcomed by industry leaders.
"The RM5 billion allocation is a significant investment in TVET education, and it is a clear signal from the government that it is committed to developing a skilled workforce," said Malaysian Employers Federation president Datuk Dr. Syed Hussain Syed Husman.
"We are particularly pleased with the government's focus on developing new TVET programmes in high-demand areas such as digital technology, engineering, and healthcare."
"These are the areas where the Malaysian economy is growing the fastest, and we need to ensure that we have a workforce that is equipped with the skills and knowledge needed to meet the demands of these industries."
The government's investment in TVET education is expected to have a positive impact on the Malaysian economy.
A study by the World Bank found that every 1% increase in the number of TVET graduates in a country leads to a 0.3% increase in GDP growth.
The government's investment in TVET education is also expected to create new jobs and opportunities for Malaysians.
According to the Malaysian Investment Development Authority, the TVET sector is expected to create 1 million new jobs by 2025.
The government's investment in TVET education is a positive step forward, and it is hoped that it will help to develop a skilled and competitive workforce that can meet the demands of the Malaysian economy in the 21st century.
How BeED is aligned to Budget 2024's TVET allocation
The BeED initiative is aligned with Budget 2024's TVET allocation in the following ways:
Curriculum reform: The BeED initiative focuses on developing a more industry-relevant TVET curriculum. Budget 2024 allocates
RM100 million to provide industry-recognized professional certification to TVET graduates. This will help to ensure that TVET graduates are equipped with the skills and knowledge that employers need.
Infrastructure development: The BeED initiative focuses on investing in state-of-the-art TVET facilities and equipment. Budget 2024 allocates RM6.8 billion for TVET education. This allocation can be used to invest in new TVET institutions, upgrade existing facilities, and purchase new equipment.
Instructor training: The BeED initiative focuses on training and upskilling TVET instructors. Budget 2024 allocates RM1.6 billion to train 1.7 million Malaysian workers via the Human Resources Development Corporation (HRD Corp) in 2024. This allocation can be used to train TVET instructors on new technologies and teaching methods.
Industry collaboration: The BeED initiative focuses on strengthening partnerships between TVET institutions and industry players. Budget 2024 allocates RM100 million to provide incentives for industries to collaborate with public TVET institutions. This will help to ensure that students have access to the latest training and technology.