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HR Ministry: IPEF 2023 will be a catalyst to weather labour market shocks

Publish date: Tue, 19 Sep 2023, 04:47 PM

KUALA LUMPUR: The Human Resources Ministry said that this year's International Public Employment Forum (IPEF 2023) will be a significant platform to address labour market shocks stemming from the effects of the Covid-19 pandemic.

In a statement today, Human Resources Minister V. Sivakumar said that the event will be focusing on three pillars namely the labour force empowerment, Technical and Vocational Training Education (TVET) as well as employment and; social and governance.

"Such information will be able to drive positive changes towards multiple aspects of human resource management, thus improving employee productivity and company performance forecasts and establishing a resilient labour market.

"These changes are timely, considering the significant shockwaves induced by the Covid-19 pandemic that saw previous human resource management practices become obsolete," he said, referring to the event that will be held on Oct 11-13, at the Kuala Lumpur Convention Centre (KLCC).

He further said that this is to ensure that current policies include human resource management; labour market supply and demand factors; as well as making sure employee operations remain relevant as various global giant companies are paving the way towards a new direction.

Sivakumar also said that the forum will also feature the Economic Minister, Rafizi Ramli; Research Advisor to the Khazanah Research Institute, Prof Dr Jomo Kwame Sundaram and; national bowling legend, Datuk Shalin Zulkifli as well as other management experts from local and international companies.

He also said that the IPEF 2023 participation fees for the private sector can be reimbursed from the Human Resources Development Fund (HRDF) through the Training Assistance Scheme (SBL).

From the perspective of workers and job seekers especially among graduates, Sivakumar said that IPEF 2023 is organised based on the commitment of the Social Security Organisation (PERKESO), an agency of his ministry, that will provide a fresh outlook on labour market demands.

"Awareness about this is pivotal to ensure the issue of job-mismatch that is actively mitigated in Malaysia will subside and eventually enhance the socioeconomic status of Malaysians at large," he added.

He also said that the ever-growing employer needs, mainly involving specific types of skills and experiences, according to the employment sector are among the key topics to be refined in the series of discussions at IPEF 2023.

He also said that the event will be the platform to lay out any insight, development and evolution of the labour market that are expected to be the major 'commodity' in this international forum. This, he added, will certainly assist in the process of shaping ideas to formulate research frameworks in the future.

"Overall, IPEF 2023 is a golden opportunity to be leveraged by various segments of society in Malaysia as it is key to the shift in labour market growth as one of the country's leading economic powerhouse," he said.

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