Budget 2022 sees job creation and labour market upskilling as focal thrust for the Rakyat with the Jamin Kerja Keluarga Malaysia (JaminKerja) initiative which aims to create 600,000 job opportunities involving an allocation of RM 4.8 billion to reduce the unemployment rate in Malaysia by 4%, underscoring the Government’s effort towards ensuring a resilient Malaysian workforce in a labour landscape that has been redefined by the COVID-19 pandemic and technological disruptions.
In addition, individuals are able to enjoy a further tax relief for upskilling and reskilling and selfimprovement courses of RM2,000 until 2023. For those who take these courses under professional bodies are also eligible for tax relief of up to RM7,000. These upskilling and reskilling courses would help in alleviating the rising unemployment rate and help to boost the demand of skilled talents for the Malaysian Oil & Gas Services and Equipment (OGSE) sector to support Malaysia’s economic prosperity post COVID-19 pandemic, Malaysia Petroleum Resources Corporation (MPRC) said.
MPRC believes that the broad-based reskilling and upskilling initiatives will also underpin the talent landscape in the oil and gas services and equipment (OGSE) industry. With the OGSE industry navigating investor scrutiny on business practices and compliance to environment, social and governance (ESG) as well as low-carbon aspirations of oil majors and nations, extensive future talent development is vital, whether it is in highly skilled talent or in technical and vocational education and training (TVET), ESG or in skills linked to digital transformation and green technologies.
“Reskilling and upskilling the Malaysian workforce, particularly in OGSE industry, has been a continuous effort by the Malaysian Government to equip local talents with essential skills to build up wide-ranging experiences, protect their careers to not only prepare for a changing workforce but also to safeguard their future. Besides JaminKerja, the Government under the National OGSE Industry Blueprint has also identified several talent-related initiatives to enhance talents in the OGSE sector,” MPRC President and Chief Executive Officer, Mohd Yazid Ja’afar said, referring to the National OGSE Industry Blueprint 2021-2030 (OGSE Blueprint), an initiative under the Economic Planning Unit (EPU).
“With these initiatives, the skilled workforce will learn to develop and apply sustainable and innovative approaches in their work. With the robust implementation of initiatives under the National OGSE Industry Blueprint, the OGSE industry’s GDP contribution to the national economy will grow around RM40 billion – RM50 billion and the industry in 2030 will consist of 60,000 skilled and semi-skilled talents. In the broader context, this will inject dynamism and progress to the industry and broader economy,” he said, adding that MPRC, as the coordinating and implementation agency for the OGSE Blueprint will also be rolling out initiatives such as skilled worker retention programme, OGSE career promotion, expansion of engineering courses and expert mentorship by former OGSE talents in 2022, from skilled retirees and OGSE talents who have left the industry voluntarily or involuntarily.
Launched in April, the OGSE Blueprint, earmarked 31 initiatives across key levers including export, Bumiputera development, technology, industry and financial strength, and talent, to create a robust, resilient and globally competitive OGSE industry. It also underscored the survivability of OGSE businesses as the Government’s key priority in supporting Malaysia’s economic prosperity.
