TVET to get RM4.6 billion in 2017

Technical Vocational Education and Training will get RM4.6 billion in funding next year.

In accordance with the national education policies to improve skill-centred education, the government has allocated RM4.6 billion for institutions providing Technical Vocational and Education Training as Malaysia aims to produce a highly skilled and proficient workforce.

As many as nine unused teacher's training institutions will be transformed into Polytechnics and Vocational Colleges. Four will be transformed into polytechnics, another four will be vocational colleges, while one will be a fully-fledged TVET institute.

The transformation of the existing facilities will require expenditure of approximately RM400 million for the nine institutions. In comparison, if the government is to build new institutions, the cost of construction will be approximately RM250 million each, saving the government more than RM2.2 billion.

To complement the effort, RM270 million is allocated to upgrading the equipment in TVET institutions and RM360 million to support the Skills Development Fund Corporation.

Private companies who are willing to provide internship programmes and training for TVET students (undergraduate degrees, diploma, and Malaysian Skills Certificate Level 3) will get a significant cut on their taxes. This incentive is extended for a period of 3 years from 2017 until 2019.

One of the most important aspect in the TVET budget next year is the allocation of RM50 million to extend the training of 20,000 graduates in 2017 under the Malaysia Training Scheme (SL1M) programme.