Malaysia's per capita income rises


SHAH ALAM: The Malaysian economy has continued to grow, as reflected in the rising per capita income which has gone up significantly since 1970, said Minister in the Prime Minister's Department, Tan Sri Nor Mohamed Yakcop.

He said the per capita income had increased to more than US$9,000 (about RM28,000) annually at the end of last year as compared to only US$376 (RM1,159) in 1970.    

"We are now talking about achieving a US$15,000 per capita income by 2020, having well passed the US$9,000 mark," he added.

He was speaking at a press conference after witnessing the signing of a memorandum of understanding (MoU) between the Selangor Human Resource Development Centre (SHRDC) and six leading edge companies participating in the High Income Talent-Research Scientist Engineer (HIT-RSE) programme here, today.    

The programme, launched in November last year between SHRDC and Talent Corporation Malaysia Berhad (TalentCorp), is one of the approved programmes under the Economic Transformation Programme (ETP).

It serves to enhance undergraduates' employability for careers in the electronic and electrical, oil and gas and telecommunication sectors.     Companies involved in the programme are Marvell Semiconductor Sdn Bhd, Spansion (Penang) Sdn Bhd, Agilent Technologies Microwave Products (M) Sdn Bhd, Renesas Semiconductor KL Sdn Bhd, Technip Geoproduction (M) Sdn Bhd and Rohde and Schwarz (M) Sdn Bhd.     The MoU is in line with TalentCorp's aim of developing the Malaysian talent pool through the implementation of initiatives such as the Structured Internship Programme (SIP).

The SIP enables employers to tap into a larger talent pool.     Commenting further, Nor Mohamed, who is also a key figure in TalentCorp's Board of Trustees, said the country's aspiration to become a high income nation can only be achieved with a corresponding growth that is driven by increased productivity, innovation and efficiency.     As such, he added, training institutions such as SHRDC have a major role to play in the development of a high impact talent workforce that can sustain these aspirations.   

"Upgrading skillsets and capabilities of both pipeline and existing talent is essential to providing the appropriate talent," Nor Mohamed said.    Meanwhile, SHRDC chairman, Tham Wai Keong said the signing of the MoU reflects the centre's commitment in producing a pool of talent to lead the country forward, as it has been doing for the past 20 years.  - BERNAMA

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