KUALA LUMPUR: The Government has allocated RM4.6 billion to Technical Vocational Education and Training (TVET) institutions to produce a local workforce that meets the industries’ requirement.
Through the National Blue Ocean Strategy to optimise the Government’s assets, nine unused Teachers’ Training Institutes (IPG) will be transformed into Polytechnics and Vocational Colleges.
Finally, four will be become polytechnics, another four will be vocational colleges and one training institute for TVET trainers.
Through this creative initiative, the expenditure involves only RM400 million compared with RM250 million to build a new polytechnic. This will save the Government approximately RM2 billion.
Furthermore, a sum of RM270 million is allocated to upgrade educational equipment in TVET institutions as well as RM360 million for Skills Development Fund Corporation.
A double tax deduction is given on expenses incurred by private companies to provide Structured Internship Programme for students pursuing undergraduate degrees, diploma and Malaysian Skills Certificate Level 3 and above under the TVET Program.
This incentive is extended for a period of three years from the year of assessment 2017 until 2019.
To enhance graduate employability, a sum of RM50 million is allocated to extend the Malaysia Training Scheme (SL1M) programme by GLCs to 20,000 graduates in 2017 compared with 15,000 graduates in 2016.