KUALA LUMPUR: The programmes and initiatives proposed under the 2024 Budget will not only help to elevate the standards of living among people but also be a step forward to position Malaysia as a leading economy in Asia, the Malaysia Productivity Corporation (MPC) said.
MPC director-general Zahid Ismail said the targets set out in the 2024 Budget are in line with the aspiration of the Madani Economy framework, which was unveiled by the unity government in July this year.
Among the initiatives in the 2024 Budget tabled by Prime Minister Datuk Seri Anwar Ibrahim on Friday, said Zahid, included the Academy in Industry, which is being carried out by the corporation to address the shortage of local talent and mismatching of skills.
"With an allocation of RM70 million, participants of the (Academy in Industry) programme will be provided with on-the-job training for up to 18 months," he said in a statement today.
Zahid said MPC understood the role played by the corporation in helping the government to meet the target set in the 2024 Budget, which is to increase annual productivity growth to 3.8 per cent.
"MPC is tasked with enhancing productivity and competitiveness, which will subsequently stimulate the economy, turning Malaysia into a top investment destination.
"Nevertheless, MPC's role needs to be strengthened through amendments to the MPC Act 1966 to ensure the country's productivity growth remains at 3.8 per cent annually as spelled out in the 12th Malaysia Plan midterm review," he said.