KUALA LUMPUR: The Malaysian government has been targetting the highly educated diaspora abroad to beef up the talent pool in the country but the World Bank feels that the programmes can be improved.
The World Bank, in an analytical report, said there should be more focus on connecting Malaysians to job opportunities by providing more information and facilitating interactions between applicants and recruiters, via job portals and career fairs.
A common platform should be developed to identify and monitor `critical occupation and skills shortages’ that informs migration and workforce development policies and programmes.
The Critical Skill Shortage List can increase the effectiveness of the government’s various talent interventions in addressing the current skill shortages while the education system ramps up its creation of such talent locally.
The 11th Malaysia Plan included this initiative to help Malaysia transition into a high income nation.
“Efforts to meet the broader family needs of returning Malaysians, such as enabling non-national spouses to work and facilitating schooling of children should be increased.”
To become a high-income country, Malaysia’s workforce development policies have to keep up with the skills demands of a dynamic economy.
A World Bank report finds that tapping into the highly educated Malaysian diaspora and skilled expatriates in the country can help provide the talent needed to ensure that skill gaps do not widen.
In its study it found that the number of Malaysians living in OECD (Organisation for Economic Co-operation and Development) countries such as the US, UK, Australia and Canada has been increasing – from 121,000 in 1990 to 311,000 in 2010.
The number of Malaysians living abroad that have completed tertiary education fell slightly from 56.5 per cent in 2000 to 54.5 per cent in 2010 but remained stable in the last decade.
It was found that 72 per cent of Malaysians report that career opportunities are their main reason for living abroad.
Through Talent Corp Malaysia Bhd the government is implementing programmes to reach out to Malaysian talent abroad and expatriates with sought-after skills.
The Returning Expert Programme targets highly-skilled Malaysians abroad who are interested in returning to Malaysia and includes people in a wide range of occupations, from engineers and bankers to specialist doctors and accountants.
It also provides fiscal and other incentives such as a 15 per cent flat income tax for five years and permanent residency for foreign spouses and children.
The Residence Pass-Talent attracts and retains foreign talent in Malaysia, especially in key sectors like oil and gas, business and education.
Like the REP, it offers a range of benefits including a ten-year pass to live and work in the country, flexibility to move from one employer to another, and eligibility for spouses to work.
“REP and RP-T are examples of what can be achieved with a rigorous, evidence-based approach to identifying sought-after skills and prioritising migration management policies.”