Budget 2015: TalentCorp to boost talent quality and growth

Among the highlights of the Budget 2015 that took place last week was the allocation for developing our talent pool here in Malaysia.

In the Budget 2015, the Prime Minister has shown that public private partnership is imperative to nurture home-grown Malaysian talent. As such, various initiatives and incentives were set out involving partnerships between the Government and private sectors to promote the growth of our talent in line with the needs of Malaysia’s economic transformation.

The key Budget 2015 measures that reflect this include:

• Encouraging employers to upskill their workforce by providing a double deduction incentive on expenses incurred in providing employees with professional qualifications (such as ACCA, CFA, and PMP) and industry recognised vocational qualifications;

• Developing industry-ready graduates through a RM30 million allocation by Talent Corporation Malaysia Berhad (TalentCorp) for the Industry Academia Collaboration programme where universities, Government entities and industries will collaborate to develop the curriculum for short courses and industrial training;

• Providing more talent with industry exposure by extending double deduction incentives to employers providing structured internships to students pursuing diploma and equivalent vocational certifications;

• Encouraging the corporate sector to provide more scholarships to poor students by providing double deduction incentive on scholarships given to fund vocational and technical courses at the certificate level; and

• Bringing more professional women on a career break back to the workforce through the Women Career Comeback Programme which will be set up by TalentCorp.

In a statement made by TalentCorp, CEO Johan Mahmood Merican said that TalentCorp will be working with leading employers to support the Budget 2015 measures, to better enable Malaysian talent to access high income career opportunities arising from the economic transformation.


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