Jagdeep highlighting the importance of record allocation for education in Budget 2024
With Penang ‘s economy dependent on manufacturing and the services sector, human capital plays a vital role in both of these industries.
In view of this, the Penang state government welcomes the largest amount of allocation for education in Budget 2024 as announced by Prime Minister Datuk Seri Anwar Ibrahim recently.
The RM58.7 billion allocation shows the government’s commitment to build a viable and globally competitive Malaysia.
Commenting on this matter, Penang Chief Minister II, YB Jagdeep Singh Deo expressed his satisfaction that education has been given top priority in the up-coming budget.
“As my new portfolio includes Human Capital Development, Science and Technology, education is the key to achieving all of these goals.
“Education is also the key to future generations and the advancement of the economy of the state and the country. It is therefore of utmost importance to focus on education for the development and prosperity of the country.
“Apart from the RM58.7 billion allocation there is also an almost RM7 billion allocation for the technical and industrial training sector which serves well for a state like Penang which focuses on industries…
In a related development, Jagdeep also highlighted the state is drawing investors not in the millions but in the billions and trillions.
“Our Bayan Lepas and Batu Kawan industrial areas are attracting top companies from all over the world. Many of these global players are coming to Penang for investment and from all over the globe
“As such, we have to prepare for more to come in terms of skills and manpower,” he said on the sideline of the launching of the Pro Ace Tennis Academy yesterday.
In a related matter, Penang Chief Minister YAB Chow Kon Yeow, he had also emphasised that 90 per cent of the state’s GDP is contributed by the manufacturing and services industry.