GEORGE TOWN – In a bid to retain youth talent in the state, the Penang government has allocated an initial RM500,000 to reward academic and extra-curricular achievements.
Known as Best! Anak Penang – Penang Young Talent Excellence Incentive Scheme, it is under Penang Youth Development Corp that seeks to grow and maintain the state’s current talent pool.
“The objective of the scheme was to appreciate youths (aged 15 to 30), who have excelled academically or in co-curricular activities on a national and international level,” said Chief Minister Chow Kon Yeow at its launch yesterday.
Currently 36 out of 54 applicants have received funding.
This initiative comes after a report that the state needs to address the acute shortage of skilled workers, especially in the areas of engineering and information and communications technology.
The Edge previously reported that there were 6,000 career opportunities in the fields of mechanical, project development, software, and science.
InvestPenang chief executive officer Datuk Loo Lee Lian was quoted as saying that as the state with the highest foreign direct investment in the country, having a shortage of workers is a “happy” problem for Penang.
“The big challenge we are facing right now is the shortage of human talent. We all know this is happening everywhere, it is not just a Penang problem.”
The state’s principal investment promotion agency has set a target of bringing in 150,000 talents in the next five years.
“When there are no investments, it is a challenge. When there are too many investments, it is also a challenge. So, which would be the happier headache? I think I would enjoy finding ways to address this interesting challenge.”
Penang is home to some 350 multinational corporations, including three of the top 10 global semiconductor manufacturers and six of the top 30 global medical device companies, as well as more than 4,000 small and medium enterprises. – The Vibes, December 23, 2022
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