Malaysia told to align foreign labour policies with market demand
Kuala Lumpur
MALAYSIA should look at labour market demands more closely when determining foreign worker inflows as its current approval system doesn't sufficiently reflect the needs of industries, the World Bank said.
The government must improve its existing evidence-based system for identifying labour shortages in the economy and change its levy structure, the World Bank said in a report released in Kuala Lumpur on Friday. The use of a combination of quotas and levies that are "semi-static" and seldom change can't keep up with varying market conditions, it said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
China says Hamas and Fatah express will for reconciliation
US consumer confidence at lowest level since 2022
Record gold prices boost recycling: WGC
Malaysian fast food operator QSR shelves IPO plans amid boycott campaign: sources
WHO warns of bird flu risk spreading to cows outside US
Sri Lanka’s key inflation rate rises to 1.5% in April