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Cyberview and TalentCorp sign MoU to develop Malaysia tech talent

Image Credits: Digital News Asia, Article

Malaysia’s tech hub developer, Cyberview Sdn Bhd, has signed a Memorandum of Understanding (MoU) with Talent Corporation Malaysia Bhd (TalentCorp) to leverage on each other’s strengths, networks, and capabilities with a goal of “cultivating a strong talent ecosystem in Cyberjaya.”

This strategic collaboration between both parties will include talent development and talent enhancement initiatives, to improve graduate marketability through greater academia and industry collaboration, the companies jointly said in a statement.

The objective is to prepare graduates to meet industry needs, as well as to minimise private investments in talent reskilling and upskilling.

The Managing Director of Cyberview stated, “We have come to a point where technology and digitisation are ubiquitous throughout every facet of our life. The pandemic is further catalysing digital transformation where businesses have had to speed up by 5.3 years, according to a global survey.”

However, market experts have pointed out that the ability to adapt to a digital future will depend on the talent, not just the technology. As firm believers in embracing a collaborative multi-stakeholder approach, we are confident that this MoU with TalentCorp will help us shape a strong talent ecosystem in Cyberjaya,” he added.

The collaboration is also in line with TalentCorp’s role as the agency under the Ministry of Human Resources (MOHR) mandated to attract, nurture, and retain the talent and expertise required for Malaysia’s economic growth, Cyberview said.

In his speech at the virtual signing ceremony, TalentCorp’s Group Chief Executive Officer said TalentCorp leverages its strategic partnerships with industry, government, and academia to support the national agenda of Malaysia’s transformation into a talent hub.

He added that TalentCorp was prepared to support the partnership with Cyberview through several mechanisms, including industry bridging, research-based insights, and the Critical Occupations List (COL).

As a start to the collaboration, both companies will work together on a structured internship programme that provides a tax incentive to employers by entitling them to double deductions.

The process of bringing in expatriates to set up base in Cyberjaya will also be streamlined with the roles of Cyberview’s Cyberjaya Investment and Services Centre (CISC) and TalentCorp’s Malaysia Expatriate Services Centre (MYXpats Centre) converging.

It was also noted that Cyberview champions Cyberjaya as a vibrant global tech hub and the centre of Malaysia’s technology innovations. Towards this end, the agency looks forward to working closely with TalentCorp to strengthen Cyberjaya’s talent ecosystem, transforming the smart city (Cyberjaya) and its communities into an innovation-based hub, Cyberview’s MD stated.

This goal is in line with the government’s commitment to drive the Industrial Revolution 4.0 agenda and spur economic growth.

A recent article notes that as digital technologies have notably begun to play an even more critical role in the economy, it is increasingly clear that there is a real need to prepare talents – newly graduated or now in the workforce – for digital jobs. More companies are becoming digital by default, with 91% of organisations having to adopt or have plans to become a ‘digital-first’ business strategy.

An average of $15.3 million over the next 12 months will be spent on digital initiatives, according to the IDG Digital Business Survey 2019. The Department of Statistics Malaysia (DOSM) had revealed that small and medium-sized enterprises (SMEs) now comprise 48.4% of Malaysia’s employment and another similar report from Huawei revealed how 48% of SMEs recognise the lack of digital skills.

In Malaysia, eight of the top ten emerging jobs will require digital tech skills. This includes jobs in Data Analysts and Scientists; Internet of Things (IoT) Specialists; Digital Transformation Specialists; and Cybersecurity Specialists, the World Economic Forum (WEF)’s “The Future of Jobs Report 2020” Report states. The same study also forecasted that 50 per cent of all employees will need re-skilling by 2025.

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