Anwar urges Malaysian industry to modernise and compete globally

KUALA LUMPUR, Oct 24 — In Budget 2027, the Malaysian government has outlined a comprehensive plan to empower young people by providing access to quality job opportunities, industry-driven skills training and improved social protection. Amir Izzwan Abu Hasan, secretary-general of the Perdana Fellows Alumni Association, highlighted the budget initiatives' focus on various stages of youth development and their role in building resilience against economic challenges.

The RM8 billion allocation to bolster the Technical and Vocational Education and Training (TVET) system, along with access to 16,000 Coursera courses and 100,000 free AI technology subscriptions, were identified as crucial tools for upskilling and reskilling. The MADANI Talent Programme, aimed at creating 30,000 high-quality jobs by 2027, underscores the emphasis on offering progressive wages, social protection, and clear career pathways.

Izzwan emphasized that young people must capitalize on wage restructuring policies, including the upcoming increase in the minimum wage to RM2,000, slated for June 2027. He also highlighted the relaxed deferment terms for PTPTN loan repayments and discounts for consistent repayments as vital financial relief. Additionally, the RM160 million support package for gig economy workers and the Sumbangan Asas Rahmah (SARA) aid, designed to help offset the rising cost of living, should be fully utilized.

Affordable housing near public transport, along with the expansion of the My50 travel pass, were suggested as further measures to alleviate the financial burden on urban youth. Izzwan concluded by stressing the importance of proactive engagement with these opportunities to advance careers and improve living standards.