In a bid to foster local talent and join the ranks of high-income nations, Malaysia has unveiled a new policy mandating companies to hire local student interns. Announced in mid-January in Kuala Lumpur, this policy forms part of Malaysia's broader efforts to enhance its human capital. Companies operating in the country are now required to recruit between one to three local student interns for each expatriate Employment Pass holder they employ.
The Employment Pass, a visa typically granted to managers and workers with specialized skills, is pivotal for businesses in Malaysia that rely on foreign expertise. The Malaysian government introduced this policy with the dual aim of reducing the country's dependence on foreign workers and providing local students with valuable work experience and skills.
While the policy is expected to benefit local students by offering them practical work exposure, it has ignited concerns among businesses, particularly multinational corporations. These enterprises are apprehensive about the potential burden this requirement could impose, as they must now balance hiring both foreign and local talent.
Malaysia's initiative reflects its commitment to developing its human capital by integrating local students into the workforce. By mandating this internship requirement, the government seeks to ensure that students gain real-world experience, thereby enhancing their job readiness upon graduation.
The announcement of this policy has elicited mixed reactions from the business community. While some view it as a strategic move towards talent development and economic growth, others raise concerns about the feasibility of implementing such measures without overburdening companies.
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