This article first appeared in Forum, The Edge Malaysia Weekly, on July 19, 2021 – July 25, 2021. – A + A The issue of foreign labour dependence is neither new nor unique to Malaysia. The New Economic Model (NEM), launched in 2010, was designed to lead the country out of the middle-income trap and become a high-income economy. The NEM expressed the concern that the continued and significant presence of foreign workers could delay industrial transformation. This issue was raised again in the post-pandemic Covid-19 economic reform plan that includes specific measures for managing and reducing foreign worker dependence. Given the high unemployment rate, foreign worker dependence may have to be reduced to absorb local workers. This intervention could reduce unemployment among Malaysians. It is clear that we need to revise the policy on foreign worker dependence. The key question to policymakers is: Should we reduce foreign worker dependence in all sectors by empowering a self-sufficient approach (replacement by local workers)? Or should we adopt a model that combines both the self-sufficient approach and foreign worker dependence as an optimal solution? Before we anticipate the ideal solution to the question, let us briefly understand some stylised facts about foreign… Read full this story
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