Career Testing
Career Testing
Career Testing
version 4, draft 4

Malaysia’s Job Market to Explode by 2020

Malaysia is on track to create three million jobs by 2020 in a bid to cement the country’s reputation as a high-income nation within the next six years. The director for education and strategic reform initiative (SRI) human capital development Tengku Azian Shahriman stated that some 438,800 net new jobs were created last year, surpassing the initial target of 330,000. Azian added that "The government has set an average target of 333,000 new net jobs to be created each year in the run up to 2020, but so far we’ve been seeing numbers exceeding the average target".  

According to the public services commission chairman Tan Sri Mahmood Adam, more than 100,000 job vacancies are set to become available within government departments and agencies this year.

Of the 13.1 million that make up the active labour force, less than 400,000 or about 3.1% are unemployed. According to the International Labour Organisation (ILO), any country with an unemployment rate of less than 4% is regarded as having attained full employment.

The Economic Transformation Plan Key to Malaysia’s Growth

The Malaysian Prime Minister, Datuk Seri Najib Razak underlined that since its creation; the Economic Transformation Plan (ETP) had generated RM220 billion from investments. As a result of investments from 195 projects in National Economic Key Areas, 435,000 jobs had been created and contributed RM144 billion to Malaysia's gross national income (GNI).

The ETP was launched in 2010 as part of Malaysia's National Transformation Plan in a bid to reach the jobs target the prime minister set by attracting investment into 12 key areas.

These areas include oil and gas, tourism, financial services, education, healthcare and business services. Such sectors have shown in the past to generate a significant contribution to Malaysia's GNI.

Malaysia to Attract Foreign Investment

The Asian country is also trying to increase its competitiveness on the global stage through implementing six Strategic Reform Initiatives. These are made up of policies that aim to create a business-friendly, efficient and competitive environment in Malaysia and help local companies to attract foreign investment.

The six initiatives cover public finance reform, public service delivery, human capital development, the role of government in business, competition, standards and liberalization and narrowing disparities.

The World Bank ranked Malaysia at the 12th position for ease of doing business in its Doing Business 2013 report. This was compared to 18th in 2012. Malaysia also led the report’s ranking for ease of access to credit and was ranked fourth for investor protection.

On the whole, Malaysia made a significant step forward to create a promising economy with an exponential job market growth and a robust capital market development. Malaysia’s global development and competitiveness make the country a lucrative destination for Western jobseekers, entrepreneurs and investors to advance their career and profit prospects.

Get our FREE eBook!
'6 Steps to Landing Your Next Job'





American Men are More Optimistic About the Job Market Than Women

A 2013 study by Gallup shows that the confidence level of both men and women differ when it comes to viewing the U.S. job market. Researchers conducted a study in 136...

Cost of Living vs. Careers and Job Market Realities- No Winners so Far

In the past, careers and cost of living weren’t destructive issues for most people. Steady employment was normal, living costs were much lower, and human beings weren’t...

UK job market

Although the UK labour market has seen a rapid recovery during the second half of 2013, the number of vacancies was unevenly spread across the country. Jobs website...

Reykjavik Iceland

The number of persons in the labour force in June 2012 was 192,500 which correspond to an activity rate of 85.8%. The number of employed persons was 182,400 and...

The Future of the Graduate Labour Market: 2014

Despite the gloomy graduate forecast told by tabloid papers, research by top players in Higher Education tell a different story of the graduate labour market for 2014...


20. 7. 2012 12:38 The Priorities of the Czech Government in the current agenda of the EU Single Market were approved by the Committee for the European Union at government...

Get our FREE eBook!
'6 Steps to Landing Your Next Job'
G up arrow