Anwar urges Malaysian industry to modernise and compete globally

KUALA LUMPUR, Oct 24 — In Budget 2027, the Malaysian government has outlined a comprehensive strategy to empower young people by providing access to quality job opportunities, skills training, and enhanced social protection, according to Amir Izzwan Abu Hasan, secretary-general of the Perdana Fellows Alumni Association. The budget includes a RM8 billion allocation to bolster the Technical and Vocational Education and Training (TVET) system, as well as 16,000 online courses through Coursera and 100,000 complimentary subscriptions to AI technology.

Hasan emphasized that these resources are essential for equipping young people with the necessary skills to meet industry demands. Additionally, the MADANI Talent Programme, set to generate 30,000 high-quality jobs by 2027, underscores the government's commitment to providing well-paying positions with robust social security and clear career progression pathways.

He advised young individuals to capitalize on wage restructuring measures, notably the forthcoming minimum wage increase to RM2,000 starting in June 2027. Hasan also highlighted the alleviation of National Higher Education Fund Corporation (PTPTN) loan repayments through relaxed deferral terms and incentives for timely payments, which would ease financial stress.

For those engaged in the gig economy, the expanded RM160 million support package and Sumbangan Asas Rahmah (SARA) assistance should be fully utilized to address the increasing cost of living. Hasan urged young people to be proactive in utilizing these opportunities to enhance their careers and elevate their living standards.