GEORGE TOWN, May 29 — In a bid to stem the outflow of talent, Penang is setting the Penang Future Foundation Fund providing full scholarships to Malaysian students.
Penang Chief Minister Lim Guan Eng noted that over two million Malaysians have left the country since Merdeka in 1957, driven not just by higher pay but also by policies in other countries that are centred on justice, human rights, democracy, integrity and rewarding hard work.
“The fund will provide full scholarships to assist all bright Malaysian students and it will retain human talent by requiring fully sponsored students to work for at least eight years in Penang,” he said in a statement today.
The scholarship will be open to all Malaysians regardless of race, religion, gender and geographical location, although he added that priority will “naturally be given to Penangites”.
One of the conditions of the scholarship is that all sponsored students will be required to work for eight years in Penang either in the public or private sector.
Lim pointed out that the state government does not have the financial resources to set up scholarship funds, and is currently looking to get more contribution from private businesses in and outside Penang.
He said the state government has adopted a three-prong approach to build human talent by giving annual allocation to schools, attracting world-class universities and introducing vocational education with industry, as well as building Learning Centres and Science Cafes to stress on teaching of Science, Technology, English and Maths.
The Penang Future Foundation Fund is another of the state's effort towards retaining human talent within the state and Malaysia.
The setting up of the fund was recently approved by the state executive councillor.
