Technically there shouldn't be any major differences because RP
is also a government institute. With that said, you have equal
chance to gain admission to local/oversea Uni as compared to
individuals in other polys. So it all depends on your GPA
ultimately.
As for employment, that i wouldn't know, since i am not stopping at
diploma-level, but generally local companies are more skeptical of
newer institution initially, but that would change.