KUALA LUMPUR (Nov 18): Top Glove Corp Bhd has signed a memorandum of understanding (MoU) with the Ministry of Education (MOE) to support the development of technical and vocational education and training (TVET) in the country.

The MoU inked on Thursday marks the beginning of a five-year cooperation between Top Glove and MOE, which is aimed at advancing TVET in Malaysia, increasing the nation's employment rate, and promoting the development of a knowledge-based economy.

Through this collaboration, local TVET students and graduates from 84 vocational colleges under the ministry would have access to internship, gainful employment, and scholarship opportunities with Top Glove, based on a structured internship and recruitment process.

Top Glove said this collaboration is in line with its ambition of increasing Malaysia's knowledge-based workforce by 2025, wich will enable the group to increase use of automation, digitalisation, robotics, and artificial intelligence across its operations as it expands to meet increased demand for its high quality gloves and other personal protective equipment.

In his opening keynote address, Top Glove managing director Datuk Lee Kim Meow said the company recognises the significant role that TVET graduates play in driving advancements and innovation in the Fourth Industrial Revolution.

Lee pointed out that while various industry players are looking to employ TVET graduates to support their digitalisation journey, Malaysia produces relatively fewer TVET graduates compared with developed countries including Germany that are focusing on TVET instead of the traditional educational pathway because they see the value of such graduates.

"It is our hope that with many collaborations such as this between MOE and Top Glove, other large local conglomerates and companies will start to develop better strategies towards supporting the growth of TVET in Malaysia and to ignite the interest of Malaysian youths for a TVET education and career," Lee added.

For Top Glove, Lee said the collaboration with MOE has built up a "fast lane" for talent acquisition strategy. In financial year 2021 (FY21), Top Glove hired 2,460 TVET graduates consisting of 340 managerial-level employees, 800 interns and 1,320 local workers. The company is targeting to employ 2,000 TVET graduates for FY22.

Deputy Education Minister I Datuk Dr Mah Hang Soon concurred with Lee about the importance of prioritising TVET graduates in the country, as the creation of a skilled workforce is essential for the country to scale up the value chain and achieve high-income nation status.

Mah lauded the collaboration and anticipated the five-year-long public-private partnership between MOE and Top Glove to enhance Malaysia's TVET sector.

He said as Top Glove is the world's largest glove manufacturer, the government is expecting young talents to pick up vast amounts of industrial knowledge that would gear them up to become competitive, competent and highly skilled.

"Today's MoU signing will pave the way for better collaboration between the government and private sector in strengthening TVET in the country," he added.

At noon break, Top Glove's share price fell 13 sen or 5.18% to RM2.38, for a market capitalisation of RM19.53 billion.