June 22, 2023 – Penang Internship Subsidy Programme (PISP), a special internship program initiated by the Penang State Government in 2022 through InvestPenang to support local companies in attracting talents from other states to Penang and indirectly will enhance the growth of Penang’s talent ecosystem. This year, the State has approved the budget of RM1 million to PISP. The 2023’s programme offers an increased subsidy as compared to 2022, offering qualified companies monthly allowance subsidy amounting to RM400 per month per intern for a maximum period of six months when recruiting talents throughout 2023.
In line with ‘My Penang, My Workplace’ campaign, this subsidy programme was established to further enhance the State’s effort in attracting an influx of talents from across Malaysia and making Penang the northern growth region in the country.
Since its launch on 18 February 2022, the programme has gained immense popularity and achieved resounding success over the past year – an exceptional turnout of 285 awarded placement enrolling from various regions, a total of 22 companies have received the subsidy support. These achievements are in line with the State’s initial aim in actively supporting local companies to attract talents from other states to Penang and indirectly contribute to the overall growth and progress of the Penang state.
In 2022, Penang’s approved manufacturing investments has garnered RM13.7 billion, of which foreign direct investment (FDI) contributed 71% of the total investment inflows. According to the data from the Malaysian Investment Development Authority (MIDA), Penang’s investment inflows in 2022 involved 135 projects, which is estimated to create 15,752 job opportunities.
Penang recorded a total of RM161.0 billion approved manufacturing investment over the past 10 years (2013 to 2022), which has created over 140,000 jobs. With the strong influx of strategic investments into Penang, a healthy talent pipeline development is critical to meet the heightened industrial demand. In addition, the State has carried out multi-pronged approaches in talent attraction and development, continuously bolstering Penang’s welcoming and conducive environment for talent, aiming to position Penang as the destination of choice for career development.
According to JobStreet’s Job Outlook Report 2022, the country’s top 5 industries in job advertisement volume turns out to be: manufacturing, computer/IT, retail & trade, banking & finance and electrical & electronics. The growing needs of future career offerings moving towards knowledge-based, high technologies and high value-added jobs bodes well for Science, Technology, Engineering & Mathematics (STEM) education. The knowledge garnered in STEM can be applied across various fields, which in turns providing wider career options for job seekers.
Knowing that science and technology is often at the leading edge of innovation in shaping the society and its future, efforts have been in place to advocate STEM education. For instance, PISP is offering subsidy to companies that are providing internship placement to interns at diploma level and above in the fields of Science, Technology, Engineering, Mathematics and Accounting (STEMA).
With the increased subsidy this year under the state’s continual initiative on PISP, the State encourages SMEs & LLCs companies to grasp this opportunity to be part of the participating companies under PISP, and offer a competitive internship allowance to attract quality talent to undergo internship with them. With positive and invaluable experience gained coupled with a structured internship program, talented individuals will be cultivated to come back and work with the companies upon their study completion. This is in line with the State’s aim to attract and retain talent within Penang and shape a competent workforce propelling the region’s progress to raise its reputation as a hub of innovation and talent.
Recognising that talent is the main differentiator, Penang aspires to attract 150,000 knowledge workers over the next five years. The State government remains committed to deepening and broadening Penang’s talent pool through a variety of initiatives that are critical to attracting strategic investments.
Offering a win-win situation to both talents and participating companies, this program aims to improve the overall work quality in Penang that fosters a welcoming ecosystem generating a sustainable environment for the long-run.
To all the Penang homegrown companies, PISP application is still available online via www.penangcatcentre.my and the closing date is 31 December 2023.
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 centers. To realise its objectives, InvestPenang also runs initiatives like the SMART Penang Center (providing assistance to SMEs), Penang CAT Center (for talent attraction and retention) and i4.0 seed fund (a catalyst for the startup ecosystem). For more information, please visit https://investpenang.gov.my/ and follow InvestPenang’s social media channels: Facebook ; LinkedIn.