GEORGE TOWN, June 29 – The Penang Internship Subsidy Programme (PISP), an initiative by the Penang State Government, is set to continue in 2023 with an increased budget of RM1 million. The programme, administered by InvestPenang, aims to attract talented individuals from across Malaysia to Penang and contribute to the growth of the state’s talent ecosystem. This year, qualified companies participating in the programme will receive a monthly allowance subsidy of RM400 per intern for a maximum period of six months.
Aligned with the “My Penang, My Workplace” campaign, the PISP plays a crucial role in attracting talents to Penang and positioning the state as a vibrant growth region in the country. Since its launch on February 18, 2022, the programme has garnered significant attention and achieved remarkable success. Over the past year, 285 interns have been placed in various companies through the programme, benefiting a total of 22 participating companies.
These achievements reflect the state’s commitment to supporting local companies in attracting talent from outside Penang and contributing to the overall progress of the state. In 2022, Penang recorded approved manufacturing investments amounting to RM13.7 billion, with foreign direct investment (FDI) accounting for 71% of the total. According to the Malaysian Investment Development Authority (MIDA), Penang attracted 135 projects in 2022, which are estimated to create 15,752 job opportunities.
Over the past decade (2013 to 2022), Penang has attracted a total of RM161.0 billion in approved manufacturing investments, generating over 140,000 jobs. With the influx of strategic investments, fostering a healthy talent pipeline is crucial to meet the increasing demands of the industrial sector. The state has implemented various initiatives to attract and develop talent, ensuring that Penang becomes the preferred destination for career advancement.
The JobStreet Job Outlook Report 2022 identified the top five industries in terms of job advertisement volume in Malaysia: manufacturing, computer/IT, retail & trade, banking & finance, and electrical & electronics. The emphasis on knowledge-based, high-tech, and high-value-added jobs positions STEM (Science, Technology, Engineering & Mathematics) education as a crucial component of future career opportunities. STEM knowledge can be applied across multiple fields, offering job seekers a wide range of career prospects.
Recognizing the importance of STEM education in driving innovation and shaping the future, the PISP subsidy is specifically targeted at companies providing internship placements in the fields of Science, Technology, Engineering, Mathematics, and Accounting (STEMA) for interns at the diploma level and above. With an enhanced subsidy in place this year, the state government encourages small and medium-sized enterprises (SMEs) and limited liability companies (LLCs) to participate in the PISP and offer competitive internship allowances to attract quality talent.
By providing structured internship programs and valuable experiences, these companies can cultivate talented individuals who may choose to join them upon completing their studies. The state’s goal is to attract and retain talent in Penang, shaping a competent workforce that propels the region’s progress and enhances its reputation as a hub of innovation and talent. With the target of attracting 150,000 knowledge workers over the next five years, the Penang State Government remains committed to expanding the talent pool through a variety of initiatives essential for attracting strategic investments.
The PISP creates a win-win situation for both interns and participating companies, contributing to the overall improvement of work quality in Penang and fostering a welcoming ecosystem that promotes sustainable growth in the long run. Penang-based companies interested in participating in the PISP can submit their applications online through www.penangcatcentre.my. The application period will remain open until December 31, 2023.
