KUALA LUMPUR, June 13 — Malaysian companies from palm oil plantations to semiconductor makers are refusing orders and forgoing billions in sales, hampered by a shortage of more...
KUALA LUMPUR, June 13 — Malaysian companies from palm oil plantations to semiconductor makers are refusing orders and forgoing billions in sales, hampered by a shortage of more than a million workers that threatens the country’s economic recovery.
Manufacturers, who make up nearly one-fourth of the economy, fear losing customers to other countries as growth picks up. “The situation is dire and very much like having to play a game of football against 11 men but only being allowed to field seven,” he said. Malaysia’s manufacturing Purchasing Managers’ Index dropped to 50.1 in May from 51.6 in April, barely remaining in expansion, as the sector shed the most jobs since August 2020, according to data from S&P Global.
In April, Minister Datuk Seri M. Saravanan said companies had asked to hire 475,000 migrant workers but the ministry had approved just 2,065, rejecting some for incomplete information or lack of compliance with regulations. “Our main focus is our workers’ welfare and rights,” said Bangladesh’s expatriate welfare and overseas employment minister, Imran Ahmed. “We’re making sure they get standard wages, they have proper accommodation, they spend minimum cost for migration and they get all other social security.” He told Reuters that Dhaka does not “want workers to end up falling into a cycle of debt trap”, adding that Malaysia wants to hire 200,000 Bangladeshi workers within a year.
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