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In order to achieve the status of a high-income economy, Malaysia needs to nearly double its number of skilled workers. Malaysian Prime Minister Datuk Seri Najib Tun Razak announced that the Government intends to increase the number of skilled workers, to half of the total workforce, by 2020.
The Prime Minister addressed a Labour Day crowd, stating, “The 50% target is a challenge not just for the Human Resources Ministry but also the private sector. But it can be achieved with the right incentives and encouragement by the Government.”
3.7 billion MYR (1.1 billion USD) has been allocated for technical and vocational training to produce more skilled workers in Malaysia. The policy is expected to create 3.3 million new jobs over the next seven years.