KUALA LUMPUR – The Human Resource Development Corporation (HRD Corp) ended 2024 with outstanding achievements across various aspects, including financial and operational performance.
This year, HRD Corp recorded its highest-ever levy collection, amounting to RM2.32 billion, an 8.9% increase compared to RM2.13 billion collected in the previous year.
In terms of levy claims, HRD Corp disbursed RM1.99 billion, a 31% increase compared to RM1.52 billion in 2023.
This accounted for 98% of the allocated funds, the highest ever achieved by HRD Corp.
As the nation’s human capital development agency, HRD Corp also distributed RM2.27 billion in financial assistance, an increase of 29% from RM1.76 billion the previous year.
In a statement outlining its 2024 financial performance, HRD Corp attributed the record-breaking levy collection to higher compliance among employers as well as improvements in its collection mechanisms.
“The funds collected directly contribute to the development and implementation of workforce training programmes,” the statement read.
More Workers Benefiting from Assistance
HRD Corp also set new milestones in providing assistance to workers.
According to the statement, these record-breaking figures reflect HRD Corp’s continued commitment to strengthening Malaysia’s talent pool by providing skills training and enhancing workforce readiness.
“Through our innovative programmes and partnerships with industry stakeholders, HRD Corp has successfully bridged skill gaps, ensuring that Malaysian workers remain competitive in the evolving global market,” it added.
A Strong Strategy for Future Growth
HRD Corp credited its stellar 2024 performance to strategic initiatives aimed at enhancing operational efficiency and maximising the impact of its funding programmes.
The agency stated that by adopting new technologies and streamlining its operational processes, HRD Corp is now better equipped to meet the growing workforce demands while ensuring its resources reach those who need them most.
Focus on Key Sectors for National Development
As an agency under the Ministry of Human Resources, HRD Corp emphasized its continued focus on key sectors, aligning with Malaysia’s economic goals, including digital skills, technology, and green industries.
“By aligning our initiatives with the evolving market needs, we are contributing to Malaysia’s long-term economic sustainability and growth,” HRD Corp stated.
The Future of HRD Corp
Building on its remarkable success in 2024, HRD Corp is determined to continue driving skills development in Malaysia.
For 2025, the agency plans to further strengthen its financial assistance programmes and expand collaborations with training providers.
“We will also focus on the future of work to ensure that Malaysia remains a leader in human capital development,” it concluded. -MalayaDailyToday
