Ease migration policy or lose out on potential gains, says World Bank


World Bank simulations show that a 10% net increase in low-skilled foreign workers raises the nation's real gross domestic product by 1.1% as the workers keep salaries low, which, in turn, lowers prices and production costs, and boosts exports. - The Malaysian Insight file pic, October 10, 2017.

THE World Bank said Malaysia’s lack of a comprehensive policy on foreign workers is costing the country potential economic gains from the region’s increasing rate of migration, reported The Edge.

In a statement yesterday, the bank said its simulations showed that a 10% net increase in low-skilled foreign workers raised the nation’s real gross domestic product by 1.1% as the workers kept salaries low, which, in turn, lowered prices and production costs, and boosted exports.


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