STEM, TVET will boost economic growth, experts say

Free Malaysia Today

Excellence in these subjects will better prepare students for entrepreneurial pursuits or employment, according to economists Rajah Rasiah and Madeline Berma.   Read More:  https://www.freemalaysiatoday.com/category/nation/2024/12/13/stem-tvet-will-boost-economic-growth-experts-say/   Laporan Lanjut:  https://www.freemalaysiatoday.com/category/bahasa/tempatan/2024/12/13/stem-tvet-akan-pacu-ekonomi-cipta-pekerjaan-kata-ahli-ekonomi/   Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------  Check us out at https://www.freemalaysiatoday.com  Follow FMT on Facebook: https://bit.ly/49JJoo5  Follow FMT on Dailymotion: https://bit.ly/2WGITHM  Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h  Follow FMT on TikTok : https://bit.ly/3uKuQFp  Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX  Follow FMT LinkedIn - https://bit.ly/42YytEb  Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj  Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------  Download FMT News App:  Google Play – http://bit.ly/2YSuV46  App Store – https://apple.co/2HNH7gZ  Huawei AppGallery - https://bit.ly/2D2OpNP   #FMTBusiness #STEM #TVET

Transcript

00:00Innovation is the key to wealth and success.

00:04Over the years, Putrajaya has stood firm on this belief,

00:07consistently updating national plans and guidelines

00:10to keep up with evolving global trends.

00:13But economists say there are two sectors in particular

00:16that the government needs to focus more on,

00:18not only to drive innovation,

00:20but also to boost the nation's economic growth.

00:22Science, technology, engineering and mathematics, or STEM,

00:30and technical and vocational education and training, or TVET.

00:34University Malaya economics professor Raja Razia

00:38said STEM subjects are critical in churning out a workforce

00:41that can propel Malaysia on its fourth industrial revolution journey.

00:45At the same time, he said TVET is essential

00:48to develop practical skills for various industries,

00:51particularly in climate resilience and digitalisation.

00:55Raja also said TVET and STEM subjects would be able to ensure

00:59that the future workforce enjoys high median wages,

01:02potentially lowering the poverty rate in the nation.

01:05However, he said there is a need to debunk the perception

01:08that TVET is meant to prepare students

01:10for dirty, dangerous and demeaning jobs.

01:13Raja called on the government to emulate Germany and Japan,

01:16which consistently recognise the crucial role TVET plays

01:20in developing highly skilled workers.

01:22Meanwhile, Madeline Burma of Institut Masa Depan Malaysia

01:26said STEM and TVET subjects offer substantial economic

01:29and social returns on investment,

01:31enhancing students' income and career prospects.

01:34She said Malaysia must raise its proportion of highly skilled workers

01:38from 25% to 45% by 2030

01:41to be able to compete with developed countries.

01:44This should not be difficult, as Madeline also believes

01:47the demand for STEM and TVET graduates has been steadily rising,

01:51with many employers recognising that they possess valuable skills

01:54like critical thinking and problem solving.

01:58Natasha Bust, FMT News.

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