SHAH ALAM: The Government will develop a comprehensive technical and vocational education and training (TVET) master plan, said Prime Minister Datuk Seri Najib Tun Razak (pic).
He said that the master plan will be managed by the Human Resources Ministry with the assistance of all relevant ministries.
"In line with aspirations and vision of the National Transformation 2050 or TN50, the government has through Pembangunan Sumber Manusia Berhad (PSMB) allocated RM50 mil from 30 % of the Human Resources Development Fund (HRDF) funds collected for the purpose of TVET," said Najib.
The Prime Minister said special emphasis will be given to Industry 4.0 to establish a workforce which is able to be competitive globally.
Industry 4.0 is the term used to describe the use of automation and data exchange in industrial technologies, including the Internet of things.
"The government will also restudy the rate and charges related to the filing of intellectual property rights as well as suitable incentives to encourage the creation of more innovation, especially through TVET institutions," said Najib in his speech at the launch of TVET Malaysia here on Wednesday.
Najib said that the Government is committed to realising the importance of TVET transformation as the game changer in increasing competitiveness as well as improving the calibre of the workforce and the nation's economic development.
He said the first step towards this will be by acknowledging TVET as the third core in the 11th Malaysia Plan to elevate human resources development and making TVET transformation an identified focus field, said Najib.
"Secondly, preparing and implementing TVET transformation to face the new challanges of the Fourth Industrial Revolution and the emergence of the Digital Economy which is dubbed by many as the industry of the future," added Najib.
Earlier in his speech, Najib said Malaysia once depended on agriculture and mining, but has now successfully moved to the industrial and service sectors.
"The gross national income per capita Malaysia has increased from USD358 in 1970 to the current USD9,850 which is an increase of more than 27 times," said Najib.
He added that according to the World Bank in 2016, Malaysia was the 37th amongst 195 nations based on Gross Domestic Produce (GDP).
Najib said the GDP for the second quarter of 2017 recorded growth at a rate of 5.8 percent, which was one of the highest in the world.
Also at the event was Human Resources Minister Datuk Seri Richard Riot Jaem, Higher Education Minister Datuk Seri Idris Jusoh and Limkokwing University of Creative Technology founder Tan Sri Lim Kok Wing.