Penang, Mar 31, 2022 – Penang has recently announced its applaudable manufacturing investment performance in 2021, hit a record high of RM76.2 billion investment inflows, according to data from the Malaysian Investment Development Authority (MIDA). Driven predominantly by the foreign direct investments (FDIs), the investment projects garnered in 2021 are expected to generate 12,024 new job opportunities in the State. Notably, the rising trend in investment value per job created signifies that Penang is constantly attracting high value-added investments, which serves as a good omen for the job seekers in securing high income jobs.

Underpinned by the rapid growth of Penang’s industrial ecosystem, a healthy talent pipeline is crucial to meet the heightened industrial demand. Holding on to that, the State has carried out multifaceted approaches in talent attraction and development, continuously bolstering Penang’s welcoming and conducive environment to finding and keeping the right talent. Today, the Right Honourable Mr. Chow Kon Yeow, Chief Minister of Penang, has unveiled a new programme under the umbrella of the State’s talent initiatives, namely Penang Internship Subsidy Programme (PISP).

During the virtual press conference, Chow shared that PISP is a special internship program with the aim to support local companies in attracting talents to Penang. “The State aspires to attract 150,000 knowledge workers over the next 5 years. PISP is introduced to unlock vast career opportunities for the talent to experience Penang’s captivating live-work-play balanced lifestyle, complemented by the State’s vibrant arts and cultures, holistic green initiatives, strong digital connectivity as well as developed infrastructure and mobility. With the mission to further enhance the State’s effort in attracting an influx of talent, PISP offers monthly wage subsidy amounting to RM300/intern for a maximum period of six months when companies recruit talent throughout 2022. In other words, qualified companies are eligible to claim up to RM1,800/intern.”

“Celebrating the 50^th anniversary of Penang’s industrialisation this year, it is envisaged that Penang’s five decades of manufacturing excellence is poised to drive the State to the next level, especially with the significant uptake of emerging technologies among our industry players. On this note, the State is cognizant that the vibrant industry in Penang did not emerge overnight. Penang’s strong talent pool is definitely one the key competitive edges that the State values and will continue to uphold. I hope that PISP can be the talent gateway to the countless opportunities in Penang that are waiting to be discovered,” said Chow.

Eligibility criteria to apply for PISP

PISP is open for all SSM-registered companies that have presence in Penang. The company must hire a minimum of three interns in the areas of science, technology, engineering, mathematics and accounting. Hiring needs to be done throughout 2022 and the minimum monthly allowance has to be at least RM1,200 per intern.

Application can now be made online via www.penangcatcentre.my and the closing date falls on 31 December 2022.

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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). For more information, please visit https://investpenang.gov.my/

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