PENANG is hoping that the national Budget 2023 would focus more on talent development and enhancement.
Chief Minister Chow Kon Yeow said the talent war and crisis have impacted various sectors of the economy, especially in Penang.
“We hope that the Federal Government will allocate more for the health and education sectors, as well as digital infrastructure and infrastructure development.
“We hope that more budget will be set aside for vocational training and skill development to give Malaysia a competitive edge over other rivals in the region who are also competing for the same investments.
“We need to upskill our talent or we will lose out,” he told a media conference after launching the new office of Ernst & Young (EY) Consulting Sdn Bhd in Wisma AIA in Straits Quay today.
Chow said that while talent development remained a crucial issue to be addressed, the foreign labour recruitment matter has yet to be resolved.
“While we talk about this (talent development), even the very basic issue – foreign labour recruitment – has not been resolved.
“The question stands on how can we move forward as a nation to continue to capture investments when we cannot (even) address issues such as the foreign labour recruitment which is not as complicated as matters concerning technology, professionals, digitalisation and STEM education.
“These are issues that the Government must address for the country to remain competitive, and to woo and win investments,” he said.
Chow said that there are many professionals and undergraduates from foreign countries who are studying in Malaysia.
“Perhaps, incentives can be given to them to continue staying and working in the country for a few years after they have graduated.
“They can be an asset to fill the gap in the country’s talent pipeline since Malaysia is facing talent shortages,” he added.
On the opening of the new EY office, Chow congratulated the corporation for achieving its significant milestone.
“Your esteemed organisation is one of the largest in Malaysia, offering comprehensive and professional services including assurance, tax, consulting, as well as strategy and transactions.
“I am delighted to note that EY is also an important member of our community in Penang, creating high-value jobs for Penangites for over 50 years.
“I have also learnt that EY’s highly experienced and multi-disciplinary teams in Penang are made up of Penangites and talents from our neighbouring states; serving clients locally and in the region.
“This speaks volumes of Penang as a talent hub, attracting some of the best and highly qualified talents from the neighbouring states in Malaysia,” he said.
He also lauded the company’s new EY@Work office concept.
“I do not doubt that it will only further promote a trust-based flexible environment that enables EY to deliver exceptional client services, as well as attract and retain the best talent,” Chow added.
Ernst & Young Consulting Sdn Bhd Malaysia managing partner Datuk Rauf Rashid said the company is committed to collaborating with key stakeholders in government, business and academia in its aligned objectives to nurture and develop a steady pipeline of business and technology talent, both in Penang and Malaysia.
At the opening ceremony of the new Penang office, EY Technology Solutions Sdn Bhd, in collaboration with SAP and Digital Penang, also announced the launch of the EY Young Technology Professional Challenge (EY YTPC) 2022.
Also present were state Transport and Infrastructure Committee chairman Zairil Khir Johari, EY Consulting Sdn Bhd and northern region managing partner Phuah Ewe Cheng, EY Asean Technology Consulting leader and partner Tan Boon Yow, SAP Malaysia interim managing director Cynthia Quah and Digital Penang chief executive officer Tony Yeoh.
Story by Christopher Tan
Pix by Siew Chia En
Video by Darwina Mohd Daud