{"id":2073,"date":"2022-12-08T06:57:37","date_gmt":"2022-12-08T06:57:37","guid":{"rendered":"https:\/\/thecrimebd.net\/english\/?p=2073"},"modified":"2022-12-08T06:57:37","modified_gmt":"2022-12-08T06:57:37","slug":"there-is-a-shortage-of-4-lakh-workers-in-the-construction-sector-in-malaysia","status":"publish","type":"post","link":"https:\/\/thecrimebd.net\/english\/news\/2073\/","title":{"rendered":"There is a shortage of 4 lakh workers in the construction sector in Malaysia"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>Dhaka Bureau:<\/strong> Labor shortages, coupled with rising raw material costs and interest rates widening the ringgit&#8217;s gap against the dollar continue to weigh on the local construction sector. The increase in the overnight policy rate (OPR) by Malaysia&#8217;s central bank has had an impact on the industry. However, the post-pandemic economy is recovering.<\/p>\n<p style=\"text-align: justify;\">Construction Industry Development Board (CIDB) Malaysia chief executive Datuk Ahmad Asri Abdul Hamid said the entry into the local level has significantly increased construction activity. Because all construction sites can operate without strict standard operating procedures (SOPs). However, there is still an estimated shortfall of around 4 lakh workers in the construction industry. CIDB (Construction Site Work Special Pass) is working closely with industry associations and the Ministry of Human Resources to facilitate resolution of the issue.<\/p>\n<p style=\"text-align: justify;\">The National Recovery Council recently called for an urgent solution to the shortage of foreign workers. The council&#8217;s chief executive officer Tan Sri Sulaiman Mahbub said on Oct 31 that quota approval and levy payment data as of Sept 12, the approved quota was 4,67,223 workers. Only 76,000 labor entries were recorded from 12 source countries for the same period.<\/p>\n<p style=\"text-align: justify;\">Mahbub said, we have seen many workers have applied. Paid the money. But few people came. The question is why they did not come?<\/p>\n<p style=\"text-align: justify;\">He said, is it related to their country&#8217;s problem or some other reason? This needs to be emphasized, otherwise the agricultural sector, especially palm oil, will continue to suffer.<\/p>\n<p style=\"text-align: justify;\">He added that labour-intensive industries such as manufacturing, tourism, construction and retail, as well as electronics and agriculture, have also been affected by labor shortages.<\/p>\n<p style=\"text-align: justify;\">Ahmad Asri noted that the ringgit has weakened against the US dollar since March. From below RM4.20 to RM4.72 in October. As a result, the price of imported goods and materials increased.<\/p>\n<p style=\"text-align: justify;\">A weak domestic currency means that the price of foreign goods will generally rise. Damaged construction materials include cement and steel. The cost of mechanical and electrical (M&amp;E) components has also increased as many components are imported from the US We will see the situation improve in the future as the currency strengthens.\u201d<\/p>\n<p style=\"text-align: justify;\">Ahmad Asri said the local currency has been on a downward trajectory against the greenback since the beginning of this year, driven by a weakening global economic outlook as well as concerns about domestic political stability.<\/p>\n<p style=\"text-align: justify;\">He said of late the ringgit has started to gain against the greenback. It rose to RM4.40 against the US dollar on December 1.<\/p>\n<p style=\"text-align: justify;\">Ahmad Asri said the performance of the construction sector is expected to stabilize for the next two years. Besides, the construction industry is still in the process of recovering from the pandemic. Major challenges include rising prices of some construction materials, labor shortages, rising minimum wages for workers as well as housing costs and cash flow problems for contractors.<\/p>\n<p style=\"text-align: justify;\">\u201cWe expect more allocations for infrastructure development and other construction projects to ensure the growth of the construction industry. Because it will catalyze the growth of many other economic sectors,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dhaka Bureau: Labor shortages, coupled with rising raw material costs and interest rates widening the ringgit&#8217;s gap against the dollar continue to weigh on the local construction sector. The increase in the overnight policy rate (OPR) by Malaysia&#8217;s central bank has had an impact on the industry. However, the post-pandemic economy is recovering. Construction Industry [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2074,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,3],"tags":[],"location":[],"class_list":["post-2073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-international"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>There is a shortage of 4 lakh workers in the construction sector in Malaysia - The Crime BD<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thecrimebd.net\/english\/news\/2073\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"There is a shortage of 4 lakh workers in the construction sector in Malaysia - The Crime BD\" \/>\n<meta property=\"og:description\" content=\"Dhaka Bureau: Labor shortages, coupled with rising raw material costs and interest rates widening the ringgit&#8217;s gap against the dollar continue to weigh on the local construction sector. The increase in the overnight policy rate (OPR) by Malaysia&#8217;s central bank has had an impact on the industry. However, the post-pandemic economy is recovering. Construction Industry [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thecrimebd.net\/english\/news\/2073\/\" \/>\n<meta property=\"og:site_name\" content=\"The Crime BD\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/thecrimebdnews\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-08T06:57:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/thecrimebd.net\/english\/wp-content\/uploads\/2022\/12\/764.png\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thecrimebd.net\/english\/news\/2073\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thecrimebd.net\/english\/news\/2073\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/thecrimebd.net\/english\/#\/schema\/person\/c6cbf5e4e9127b14e59313501887014c\"},\"headline\":\"There is a shortage of 4 lakh workers in the construction sector in Malaysia\",\"datePublished\":\"2022-12-08T06:57:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thecrimebd.net\/english\/news\/2073\/\"},\"wordCount\":512,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/thecrimebd.net\/english\/#organization\"},\"image\":{\"@id\":\"https:\/\/thecrimebd.net\/english\/news\/2073\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/thecrimebd.net\/english\/wp-content\/uploads\/2022\/12\/764.png\",\"articleSection\":[\"Economy\",\"International\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thecrimebd.net\/english\/news\/2073\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thecrimebd.net\/english\/news\/2073\/\",\"url\":\"https:\/\/thecrimebd.net\/english\/news\/2073\/\",\"name\":\"There is a shortage of 4 lakh workers in the construction sector in Malaysia - 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