The government will provide an incentive of between RM350 to RM500 a month to local workers who replace foreigners, depending on the sector of the job.
This monthly payment will last for two years, said Finance Minister Lim Guan Eng who announced a slew of incentive for workers under a programme called "[email protected]" in Budget 2020.
The foreigner replacement scheme will also see employers being paid RM250 month for two years for hiring a local to replace foreigners.
"Cognisant of the challenges, the government is launching the #MalaysiaKerja initiative to create better employment opportunities for youths and women, therefore reducing the reliance of low skilled foreign workers," he told the Dewan Rakyat today.
Similar measures were also announced for unemployed graduates and women returning to the workforce.
However, for these categories, the incentive payment will go into their Employees Provident Fund (EPF) instead.
For graduates who have been unemployed for more than a year, employers who decide to hire them will receive RM300 a month for two years.
Meanwhile, the newly-employed graduate will receive RM500 a month for two years to his or her EPF savings.
As for women aged between 30 to 50 who have been out of the workforce for more than a year, they will be paid RM500 a month for two years if they return to the workforce.
These payments will also go into their EPF savings.
The employer who hires them will also receive RM300 a month for two years.
Lim also announced that the government will provide an RM100 a month incentive to those who undertake Technical, Vocational and Education and Training.
Lim said the incentives will be managed by the EPF and will be integrated with the Employee Insurance Scheme.
"The government expects the #MalaysiaKerja programme to create 350,000 job opportunities for Malaysians within five years," he said.