The education services sub-sector covers a range of areas from early childcare education up to tertiary level and professional skills training. In line with country’s aspirations to become a regional education hub of excellence, the Malaysia Education Blueprint (2015-2025) charts the way forward by focusing on nurturing future-proof graduates and industry-ready talents that can thrive in the world of IR4.0 technologies.
Private Higher Education Institutions (PHEIs) have grown in recent decades, supplying a constant stream of human capital for the country as well as the wider ASEAN region. We have over 400 private colleges offering Diploma and Bachelor programmes while many institutions promote advancement to Masters and PhDs.
As at 30 September 2019, a total of 1.32 million students pursued their tertiary education in Malaysia, whereby 49.7% registered in public universities while 50.3% were in PHEIs. The PHEI industry which is worth RM31.5 billion in 2018 has the potential to grow to RM65 billion by 2026.
Malaysia’s diversified PHEI landscape features established international campuses such as Swinburne University of Technology Sarawak (Australia), Curtin University, Sarawak (Australia), Monash University Sunway Campus (Australia), University of Nottingham Malaysia Campus (UK), Heriot-Watt University Malaysia Campus (UK), Newcastle University Medicine Malaysia (UK), University of Southampton Malaysia Campus (UK), University of Reading Malaysia (UK) and Xiamen University Malaysia (China).
The rise of pervasive IR4.0 technologies is changing the future of jobs. Besides PHEI, Technical Vocational Education and Training (TVET) has been identified as a critical enabler to ensure that the nation’s human resource potential is rightly skilled. These institutions provide opportunities for education and upskilling to meet the challenges of the Fourth Industrial Revolution, smart manufacturing and digitalisation.
lucky365 extra continues to encourage companies to invest in talent and technology to improve productivity and capability by contributing to the upskilling of human capital. We offer several facilities to help optimise the returns of your investment plans here. New or expansion projects of TVET institutions and expansion projects of PHEIs are eligible for the following incentive:
Investment Tax Allowance (ITA) of 100% of the qualifying capital expenditure incurred within a period of 10 years. The allowance can be offset against 70% of statutory income for each year of assessment.