Speaking at the launch of the World Bank report “Aiming High – Navigating the Next Stage of Malaysia’s Development”, economists say that with the advent of automation, students must be adequately prepared for a workplace which is set to change rapidly in the coming years.
Yeah Kim Leng, director of the economic studies programme at the Jeffrey Cheah Institute on Southeast Asia, said the lack of skilled labour is frequently mentioned as a key impediment in a country’s ability to attract better quality investments.
“In the short term, we need to upskill and reskill the workforce by making the academic qualifications more responsive and adaptable to labour market demands.”
“We need to strengthen foundation skills in our workforce and create specific niche programmes for high-level industries in the long term,” he said,
Ndiamé Diop, country director of the World Bank Group for Brunei, Malaysia, the Philippines and Thailand, echoed these comments and added that educational systems should offer more skills in a changing world.
“Automation and digitalisation are the name of the game, and they call for different skill sets. The education system should adapt quickly and offer the skills a rapidly changing market needs, otherwise a growing cohort of university graduates may find it difficult to secure high-paying jobs,” he said.
Their comments add to a growing chorus of experts calling for educational reform as a path to prosperity after the pandemic.
Carmelo Ferlito, chief executive officer of the Center for Market Education, told FMT yesterday that secondary education must begin to introduce professional skills to allow those who bypass college to gain access to the job market.
“An example would be accounting. This skill can be taught in secondary schools while tertiary education should be reserved for scholarly work and liberal professions,” said Ferlito.
Additionally, Parent Action Group for Education founder Noor Azimah Abdul Rahim said “education and the economy work hand in hand,” adding that unless institutions such as vernacular schools receive improved funding, improvements would be slow going.