Knowledge Economy Growing Rapidly in Malaysia

Malaysia will need 201,000 engineers by 2010 as it moves towards the K-economy (knowledge economy), according to the country's National Economic Action Council (MTEN).

Here is a closer look at the Malaysian demand numbers. Of the 201,000 engineers needed, 33,000 will be in the civil field (18,000 in 2000), electrical and electronic will need 64,000 engineers, mechanical will require 45,000, and chemical, which has the biggest shortage, will require 29,000 by 2010. According to the MTEN, there is also a great demand in other K-based fields like system and hardware engineering, which will require about 37,000 engineers in 2010 compared with 15,000 in 2000, software development will need 26,600 engineers, and 71,000 business analysts will be needed by 2010.

These are significant numbers, speaking to the expected greater role that developing nations will play in the rapidly emerging knowledge economy in the future. China, India, Korea and other nations also have their sights sets on future growth in this area. All this points to much greater competition for these opportunities in the United States.

Go here to read more.