RMK11 | The government is to emphasise reforming labour market as well as labour efficiency and productivity as its top priority in the remaining period of the 11th Malaysia Plan (RMK11).
According to the mid-term review of the RMK11 released by the Economic Affairs Ministry today, the reform is crucial in developing knowledgeable and innovative human capital to support the country’s future economic growth.
The reform is also aimed at addressing job mismatch which resulted in graduate underemployment, unemployment, and slow wage growth as well as overreliance on migrant workers.
Four priority areas have been identified in overcoming these problems and achieving the reform agenda.
Under the first priority area of ‘Reforming the labour market’, the government has listed four strategies to be implemented – generating skilled jobs, raising salaries and wages, enhancing management of migrant workers and improving labour market conditions.
The second priority area, ‘Improving labour efficiency and productivity’, lists two strategies to be implemented – strengthening the rights of workers and increasing female participation in the labour force.
Under the third priority area of ‘Enhancing access to quality education and training’, three strategies will be undertaken – raising the quality of education, prioritising quality over quantity for technical and vocational education and training (TVET) and improving education for all.
The final priority area of ‘Fostering stronger industry-academia linkages’ outlines two strategies of developing industry-relevant skills and promoting contributions of society and industry.
According to the report, all of these strategies will empower human capital as well as produce competitive and resilient human capital to support the national aspiration to become an inclusive and developed nation.
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