Concerted public-private efforts in building talent pipeline for the development of Digital Economy ecosystem to ensure sustainable growth.

Penang, November 8, 2022 – Digital economy is one of Malaysia’s key economic pillars, currently contributing 22.6% to the country’s gross domestic product (GDP) and this figure is expected to rise to 25.5% by 2025. Particularly, Global Business Services (GBS) industry in Malaysia is expected to grow at a five-year compound annual growth rate (CAGR) of 6.2%, reaching US$6.7 billion by 2025.

With the proliferation of next-generation technologies and the acceleration of digitalisation agenda, nurturing a future proof and digitally-skilled workforce is imperative for sustained growth. Cognisant of this, Penang GBS Industry Academy (PGIA), being a joint effort among InvestPenang, Malaysia Digital Economy Corporation (MDEC), Penang GBS Focus Group and Penang Skills Development Centre (PSDC), is introduced and launched in Penang.

PGIA is an academy that pools resources from the private sectors, government entities and academia to bridge talent supply and demand gap as well as become a launchpad course to enhance the readiness and competency of the talent. The academy will focus on courses and skillsets related to digital economy and targeted at fresh graduates, job seekers, working professionals, academics and business owners. These include introductory of GBS programmes, technical or specialised skillsets as well as management and soft skills to build their capabilities.

Officiating the launching ceremony, Dato’ Haji Abdul Halim bin Haji Hussain, Penang State EXCO for Trade, Industry and Entrepreneurial Development (representing Penang Chief Minister, Right Honourable Mr Chow Kon Yeow) said: “Penang, often lauded for its robust industrial ecosystem, have made significant progress in the past 50 years of its industrialisation journey. Pledging to make great strides in developing the digital economy ecosystem, I am hopeful for PGIA to be a springboard that sparks a new wave of GBS and digital talent to meet the heightened industry demand. Concurrently, the state will also ensure the readiness of physical and digital infrastructure, as well as uplift the liveability stature, all of which are poised to sustain our status as the Silicon Valley of the East.”

Ts. Mahadhir Aziz, CEO of MDEC, said, “To ensure a sustainable approach as we accelerate the growth of our digital economy, in this case, the growth of the GBS industry, we need to ensure that we address both the supply and demand quotients in the equation. The launch of this initiative is further evidence of a holistic approach as espoused under Malaysia Digital (MD), a new national strategic initiative which seeks to grow the digital capacities and capabilities of the nation as well as to grow the overall ecosystem value. We are proud to be collaborating with our Penang partners, in the public, private and academia sectors, in our mutual goal to establish Malaysia as the digital hub of ASEAN.”

InvestPenang, being the project initiator, is tasked to oversee the operations of PGIA. “The demand for the right talent continues to upsurge as our nation transitions towards a higher value-added economy. The launch of PGIA is among the state’s many efforts to meet the increased demands for high quality talent in the digital economy sector. I believe that this academy will take the lead to enact a greater focus and create powerful synergies between the public and private sectors, for the benefit of the people,” said Dato’ Seri Lee Kah Choon, Special Investment Advisor to the Chief Minister of Penang.

Visit PGIA website at (https://www.psdc.org.my/pgia) for more information on this academy.

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About InvestPenang
InvestPenang is the Penang State Government’s principal agency for promotion of investment. Its objectives are to develop and sustain Penang’s economy by enhancing and continuously supporting business activities in the State through foreign and local investments, including spawning viable new growth centres. To realize its objectives, InvestPenang also runs initiatives like the SMART Penang Centre (providing assistance to SMEs), Penang CAT Centre (for talent attraction and retention) and i4.0 seed fund (a catalyst for the start-up ecosystem).

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