Malaysia to post steady growth in 2012, ‘Modern jobs’ at the core of Malaysia’s transformation into a High Income Country
The World Bank‟s partnership with Malaysia.
Knowledge-sharing & centered on supporting the
Government‟s vision of bringing Malaysia among
the ranks of high income economies.
Malaysia has chosen not to borrow from the Bank
since 1999 & reimburses the Bank for the advisory
In 2009, the Government of Malaysia & The
World Bank signed a 3 years Partnership
Agreement for advisory services.
Since then, the World Bank and Malaysia
collaborated on a number of projects in the
areas of human development &
expanded to 5.1 %
GDP is expected to
continue to expand
healthily in 2012 by
4.6 % in 2012
up, 5.1% in 2013
THE ULTIMATE GOAL :
Becoming a high-income country‟s
Support higher and more secure incomes for
“Requires of transformation of types of jobs available”.
Anette Dixon, World Bank Country Director for Malaysia
What is Modern Job ?
Involves in a higher and more diverse set of
skills such as communication, problem
solving and proficiency in modern
Modern firms in high income economy:
-Talent of employees
The World Bank supports the Government's New Economic Model
recommendation in education system.
Malaysia also benefited :
-Complementing its talent from abroad.
Measures increase competition in the economy…
-Firms will have to modernize.
Recent trends in Malaysia‟s labour markets are
Unemployment has been low, more young people
receiving higher education
More women have careers
More high-skilled jobs are being created.
- Mathew Verghis, World Bank Lead Economist
for Southeast Asia
The challenge of creating modern jobs is closely related to
the challenges for Malaysia‟s overall economic
- link between productivity and wages force
to high wages.
- Malaysia„s wage rates such as well-
designed minimum wage.
Nurturing, attracting and retaining skills lie at the core of
creating modern jobs.
Labor markets can be modernized to be more dynamic while
creating greater inclusiveness and providing protection for
-Reducing redundancy costs and introducing
unemployment and other social insurance to
protect workers, not jobs.
- Promoting flexible work arrangements, complemented by
adequate childcare, to tap on women – a great untapped source
of skills in Malaysia.